The European Central Bank should “significantly lengthen” the maturity of loans to the region’s banks and “widen the criteria” to accept assets as guarantees, the chairman of Intesa Sanpaolo SpA (ISP)’s management board, Andrea Beltratti, wrote in a commentary in financial daily Il Sole 24 ore.
Banks can continue to lend to companies only if they are able to secure medium and long-term funding, Beltratti wrote.
The new budget measures that Italy will adopt in the coming days should be credible and the country shouldn’t rule out asking the International Monetary Fund for aid, he wrote.
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