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Report: Italy could provide €95B for troubled banks

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Report: Italy could provide €95B for troubled banks

The Italian treasury wants to make €15 billion available to support the capital increases of Italy's most fragile lenders, and another €80 billion in guarantees for future liquidity crises, La Repubblica reported Dec. 15.

The treasury intends to launch the €95 billion package Dec. 22 if attempts to find a market solution for Banca Monte dei Paschi di Siena SpA's capital problems fail, the newspaper added.

Meanwhile, Italy's new government won a vote of confidence from the Italian senate, the newspaper reported separately Dec. 14, saying the margin of the victory — with 169 votes in favor and 99 against — was in line with expectations. It had already won a confidence vote in the lower house of parliament.