A bad bank in Italy? "We need to use all the tools at our disposal and I hope it can go through." This was stated by Danièle Nouy, chairman of the supervisory board of the single European supervisory mechanism, during a meeting with the Italian press at the end of the conference organized by Bank of Italy on supervision in the euro area. The deputy general manager of via Nazionale, Fabio Panetta, was also present at the appointment.
“If this were not the case – added Nouy – there are other solutions that can be advanced”. The problem of non-performing loans "is present in various countries of the euro area and for us it is a problem that needs to be tackled as soon as possible and adequately", Nouy explained again, underlining that for this reason the ECB "has created a working group to study the 'best practices' around the world. It's about starting the journey, because it's not a question that can be resolved in one day”.
The Italian Treasury Minister, Pier Carlo Padoan, also expressed his opinion today on the bad bank project: “There is no problem with Brussels – he assured –, we are now in the final phase in which we deal with the technical conditions, the definition of the shadow price mechanism that allows transactions to start. We now have a very, very constructive relationship with the Commission's Directorate-General for Competition, as demonstrated by the preparation of the operation for the 4 banks decided yesterday and therefore we are very confident that we will continue on this matter as well”.
