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EU assessing State aid to banks in Bank of Italy op

'Just a request for information'

28 February, 11:00
EU assessing State aid to banks in Bank of Italy op (ANSA) - Brussels, February 28 - The European Commission said Friday it had asked Italy to explain recent changes in the Bank of Italy's shareholding structure to see if they might constitute State aid to banks.

In a statement, the European Union executive said "The EC has asked Italian authorities for more information on the decree of November 30, 2013 which introduces changes to the capital and shareholders of the Bank of Italy, to assess whether it contains State aid to certain banks".

The EC stressed this was just an inquiry.

The Bank of Italy operation was hotly contested by the anti-establishment 5-Star Movement which claimed the central bank was handing taxpayers' money to banks implicated in the recent financial crisis.

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