Standard & Poor's ratings
agency said Tuesday that Italy's plan to reduce its banks'
non-performing loans is not a panacea. The measure, while
positive, is not likely on its own to significantly impact the
toxic loan burden, the agency said in a report on an agreement
between Italy and the EU to offload Italy's bad loans.
Italy's banks hold 201 billion euros in gross
non-performing loans, Economy Minister Pier Carlo Padoan said
earlier in the day.
"We're working on a decree containing many measures on the
banking system," Padoan told reporters on his way out of the
Parliamentary Committee for Intelligence and Security Services
(COPASIR) earlier in the day.
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