EU demands Italy act on bank weaknesses this year - update

Commission wants measures to reduce impaired loans

(ANSA) - Brussels, May 12 - The European Commission wants the Italian government to take action to fix the weaknesses of several banks, including exposure to bad loans, according to a draft of economic recommendations that ANSA has seen. The draft calls on Italy to "introduce by the end of 2015 binding measures to address the remaining weaknesses in the governance of banks, in particular (the role of) foundations, and take measures to accelerate the reduction of impaired loans," the draft said.


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