"There is a perception of the Italian banking system that is totally distorted in terms of numbers, bad debts, what it is necessary to capitalize", and "the fact that someone says that the risk generated is so high is totally unfounded". These are the words of the Minister of Economy, Pier Carlo Padoan, at the end of today's Ecofin.
"The banking system remains solid - added the MEF number one - of course it has gone through three years of deep recession from which it is emerging but there are very few specific critical issues".
In short, the widespread alarm in Europe about the stability of our banks would not be supported by real foundations. Despite this, the Government plans to implement changes aimed at safeguarding savers.
"There are various hypotheses under study, as already mentioned, the Government intends to put in place precautionary instruments as it has already done for liquidity", added Padoan, but "only if necessary and with the aim of supporting, if necessary, the market operations" and "in any case in the total sense of the protection of savers".
