June 9, 2012 / 10:31 AM / 6 years ago

Italy does not have to fear Spanish banks- UniCredit exec

SANTA MARGHERITA LIGURE, Italy, June 9 (Reuters) - Italy does not need to fear the situation of the banking sector in Spain, the general manager of Italian bank UniCredit said on Saturday.

“Italian banks are strong. Spain can be in a delicate situation, but substantially we do not have to be scared about Spanish banks,” Unicredit’s Roberto Nicastro said at a conference of young entrepreneurs organised by business group Confindustria.

Spain is expected to ask the euro zone for help with recapitalising its banks at the weekend, sources in Brussels and Berlin said on Friday, becoming the fourth country to seek assistance since Europe’s debt crisis began. (Reporting by Antonella Ciancio)

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