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Italy sees deal with EU over Monte dei Paschi "in a few weeks"
February 22, 2017 / 10:34 AM / 9 months ago

Italy sees deal with EU over Monte dei Paschi "in a few weeks"

MILAN, Feb 22 (Reuters) - Italy expects to reach an agreement with European authorities over a state bailout of Monte dei Paschi di Siena in a few weeks, top Treasury official Fabrizio Pagani said on Wednesday.

“Talks have just began. They are not more difficult than anticipated and will require a few weeks,” Pagani said on the sidelines of a conference in Milan.

Denying press reports at the weekend, Pagani said that the European Commission had not asked for changes to the government decree which detailed the bailout.

Monte dei Paschi asked for state support last year after failing to raise 5 billion euros on the market to shore up its capital.

Several Italian newspapers reported at the weekend that an accord over Monte dei Paschi’s bailout plan could take months and that Brussels wanted Italy to amend the conditions of the rescue. (Reporting by Giulio Piovaccari; writing by Francesca Landini, editing by Valentina Za)

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