Padoan Says Extent of Bad Loans at Italian Banks Overestimated
- NPLs in the tens -- not hundreds -- of billion euros
- Italian finance minister comments in Bloomberg TV interview
Italy's Padoan Says Protectionism Is Off the Table
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The numbers circulating about bad loans at Italian banks are too high, Finance Minister Pier Carlo Padoan said.
“The numbers that have been floating around” amount to several hundred billion euros -- this “grossly overestimates the impact, I would say that now we are talking about tens of billions,” Padoan said on Saturday in a Bloomberg Television interview in Bari, Italy, where his nation was hosting a meeting of Group of Seven finance chiefs and central bankers.