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Merkel, Padoan Confident Italian Bank Crisis Can Be Averted

Bloomberg business news

Italian Bank Debt Changes Game for Renzi

Updated on

European leaders from German Chancellor Angela Merkel to Italian Finance Minister Pier Carlo Padoan signaled that a pragmatic solution to Italy’s banking woes can be found within the boundaries of current rules.

“Intensive talks” are under way between Prime Minister Matteo Renzi’s government and the European Commission, with European finance ministers also discussing the matter on Tuesday, Merkel told reporters in Berlin.