No bank will go bust says Salvini

Won't budge even half a millimetre on budget says deputy PM

(ANSA) - Milan, October 26 - No Italian bank will go bust because of the rising bond spread due to Italy-EU budget ructions, Deputy Premier Matteo Salvini said Friday.
    "No bank will go to the wall. If someone is thinking of speculating at the expense of savers and Italians, let him know that there is a government and a country ready to defend its businesses, banks and economy, at whatever cost", he said.
    European Central Bank chief Mario Draghi said Thursday a consistently elevated spread, a gauge of investor confidence in Italy's ability to pay down its debt, would impact banks.
    He voiced the hope that budget talks with the European Commission would lead to a smaller deficit than 2.4% next year and spark a fall in the spread.
    Salvini also said Friday that "we will not go back even half a millimetre" on the budget.


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