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New prime minister vows to support Italy's troubled banks


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New prime minister vows to support Italy's troubled banks

New Italian Prime Minister Paolo Gentiloni said his government will look to aid the country's beleaguered banks and is prepared to "intervene in order to guarantee the stability of banks and the savings of our citizens," Reuters reported Dec. 13.

Gentiloni was speaking to Italy's lower house of parliament the day after being sworn in as prime minister, having unveiled a government largely made up of those who served under former Prime Minister Matteo Renzi. He was slated to face confidence votes in both houses of parliament, Reuters wrote, noting that he was expected to ease through in a Dec. 13 lower house vote but could face more opposition in the upper house Dec. 14.

The opposition Five Star Movement and Northern League said they would sit out the confidence votes as a protest against the lack of change in Gentiloni's new government, Reuters added.