Deals
Italy in Final Talks With EU on Bad Bank Plan, Padoan Says
- Measures approved by Italy to accelerate reduction of NPLs
- Padoan sees opportunities for M&A, welcomes foreign players
Italy's Finance Minister Speaks to Bloomberg TV
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Italian Finance Minister Pier Carlo Padoan said the government is in final talks with the European Commission to create a bad bank to buy problematic loans from lenders, a measure to free up lending as the country emerges from a record-long recession.
“We are in a completely technical discussion to identify instruments that allow some indirect state guarantee to operate," in compliance with state aid rules, Padoan said in an interview at the Ambrosetti Forum in Cernobbio, Italy, on Sunday. “We are having final talks with the Commission these very days, so we hope to solve the technical issues very soon.”