HALISTER: Italy’s Padoan Doesn’t Expect Other Lenders to Need State Aid

Italy’s Padoan Doesn’t Expect Other Lenders to Need State Aid

(Bloomberg) -- Veneto banks rescue “is not a bailout, everything was done by the rules,” Italian Finance Minister Pier Carlo Padoan says in interview with Bloomberg Television.
  • Says rules were negotiated with EU institutions
  • Says “taxpayers are not affected”
  • “The amount of public resources set aside was already discounted in December so this is not additional state money to be levied on taxpayers”
  • Italian deal doesn’t change the playing field
  • “We have strengthened euro integration and strengthened the banking union and we are working to make it even stronger” not weakened it
  • Says he’s quite confident about recovering the almost EU5b put in by the govt
  • Says mood in market improving as shown today
  • Says Monte Paschi situation is “completely different”
  • Says Carige so far complying with EU requests

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ISP IM (Intesa Sanpaolo SpA)
BMPS IM (Banca Monte dei Paschi di Siena SpA)
1021Z IM (Banca Popolare di Vicenza)
3141276Z IM (Veneto Banca SpA)

People
Pier Padoan (Republic of Italy)

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