Economy Minister Pier Carlo
Padoan said Friday there would be no problem with a delay in the
sale of the four 'good banks' set up last year to save the
accounts and jobs of four insolvent lenders. Padoan said that
talks with the European anti-trust authorities was over and
Italy had provided all the relevant documentation required.
"There should not be any problems in delaying the deadline for
the sale of the four banks," he said. The four banks, Banca
Etruria, Banca Marche, Cassa di Risparmio della Provincia di
Chieti (CariChieti) and Cassa di Risparmio della Provincia di
Ferrara (CariFe) were rescued saving jobs and deposits but
shares and bonds were rendered worthless, causing one bondholder
to commit suicide. The government is setting up a compensation
package for the bondholders, many of whom say they were duped
into buying risky bonds.
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