Bank of Italy head says wise to be ready for state aid for banks
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
MILAN (Reuters) - State aid for Italian banks is something that should be considered even if it remains a remote possibility, Bank of Italy Governor Ignazio Visco told Italian daily Il Foglio on Friday.
"It is wise to get ready for the idea of state aid even if that does not mean it will be necessary," Visco told the newspaper.
Troubled Italian lender Banca Monte dei Paschi di Siena
But there is growing concern it may have to turn to the government for support.
Asked about foreign investors buying into Italian banks, Visco said the nationality of shareholders was not important but rather "their capacity to guarantee stability".
The central bank head said the constraints on Italian budgetary policy were due to the country's high public debt and not to European rules.
Asked about Italy's referendum in December on constitutional reform, Visco said the country had to "proceed along the path of change".
(Reporting by Stephen Jewkes)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- One dead, several injured after car crashes into pedestrians in Australian city Melbourne
- Las Vegas Sands pays $7 million to end U.S. criminal bribery case
- Sweden's Telia mulling bid for Danish peer TDC: Dagens Industri
Create E-mail Alert Related CategoriesReuters
Related EntitiesEuropean Central Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!