Economy Minister Pier Carlo
Padoan told the Senate on Thursday that "Italy's public finances
are under control and pensions spending is sustainable". Padoan
said European Commission analysts believe Italy's debt "can
withstand various scenarios", including "significant shocks"
from interest rate changes. The minister also told lawmakers
Italian banks hold net non-performing loans equal to 88 billion
euros, not 201 billion. "(The latter) is not the number weighing
on bank balances, because devaluations and deferments have
already been carried out," the minister explained.
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