The European Commission said
Tuesday it was not yet ready to evaluate a new Italian fund
aimed at helping struggling banks in the future. The EC said it
only had "preliminary information" on the fund and "is not able
to evaluate it". It said it was "in touch with the Italian
government" on the scheme, unveiled Monday. So far the Italian
government has not outlined any measure that would imply State
aid so the EC "cannot comment" on that aspect. The government
said Monday night it was setting up a five-billion-euro fund to
shore up Italy's banks. The fund with limited participation from
Italian state lender Cassa Depositi e Prestiti (CDP) will back
capital increases for troubled banks and help clean up
non-performing loans.
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