Italy needs large banks
but they should be rooted in the country and its population,
Confindustria industrialists' association president Giorgio
Squinzi said Monday.
"In general we need big banks that, however, are linked to
the territory," Squinzi said.
"Regional banks were fundamental in Italy's growth process
in the post-war period, from popular banks to savings banks".
Squinzi said he is moderately optimistic about the pace of
the economy's recovery after the latest consumer data.
"There is certainly a bit more confidence determined by the
positive numbers that have come out after 13 months of negative
GDP," he said.
"After two positive quarters I think there will be others
and obviously this creates confidence".
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