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Italy Seeks Bank Accord for Mortgage Relief Amid Virus Lockdown

  • Government looks at tax payments, temporary layoff relief
  • Italy extended restrictions on movement to entire country
A regional government notice reading "Cornonavirus, Let's stop it together," sits on display by residnetial apartments in Milan, on March 10.

A regional government notice reading "Cornonavirus, Let's stop it together," sits on display by residnetial apartments in Milan, on March 10.

Photographer: Camilla Cerea/Bloomberg
Updated on

Italy is negotiating with banks to provide breaks from debt payments including mortgages as it seeks to soften the impact of a nationwide lockdown to contain the coronavirus.

The government is considering unprecedented steps to inject money into companies and ease family debt burdens, Deputy Finance Minister Laura Castelli said in a radio interview. It’s also looking to aid those who experience temporary layoffs, she said, adding that a new decree on economic relief will be announced soon.