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Italian banks' NPL problem will be dealt with gradually, says Eurogroup president

Eurogroup President Jeroen Dijsselbloem believes getting ridof Italian banks' nonperforming loans will be a gradual process rather than aquick fix, Reuters reported July 11.

Dijsselbloem, who was speaking at a meeting of the Eurogroupof eurozone finance ministers, said the NPL issue was not a new one and that"it's not an acute crisis."

He added: "There is not much we can do … The EuropeanCommission and the European banking supervisor has to talk to the Italiansusing the rules [we have set out]."