There is much anticipation for the technical level meeting to be held at the European Commission on the Italian mechanism for managing the 200 billion euro bad debts that have shaken the markets. Treasury and Bankitalia experts for Italy will participate and the managers of the Competition DG who deal with the banks and state aid dossier.
The political pressure of the Italian government is maximum because the tensions on the markets are forcing everyone to accelerate (even if speaking of acceleration is paradoxical because the tug of war between Brussels and Rome on the 'bad bank' dossier has been going on for months). The fact that today the stock market trend is positive, the emergency has not diminished. The feeling - at least on the Italian side - is that the negotiation is in its final stages.
The most intricate node remains that relating to the position of the State, which according to the proposal will somehow guarantee the bad bank. This aspect will have to get the OK from Brussels, thus finding the right position for avoid incurring state aid prohibited at European level.
