Finances under control, pensions sustainable says Padoan

Net toxic loans of 88bn minister tells Senate

(ANSA) - Rome, February 4 - 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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