Italy ‘No’ vote will make it harder for banks to raise money – economy min

ROME (Reuters) – If the government loses a Dec. 4 referendum on constitutional reform it will be harder for Italy’s struggling banks to recapitalise, Economy Minister Pier Carlo Padoan said on Thursday.

Padoan told state television RAI that Italy’s banking system was solid, but said there were eight banks that were in a delicate position. One of those lenders, Monte dei Paschi di Siena , is looking to raise 5 billion euros ($5.3 billion) by year-end to plug a capital shortfall.

“If ‘No’ wins it will be more difficult to raise capital,” Padoan said.

(Reporting by Crispian Balmer)

WeirdItaly

Weird Italy, Guide to Unusual & Amazing Places to see in Italy. Italy’s news in English: Art, History & Facts

Related posts:

Italy’s resurgent 5-star movement pushes for referendum on euro Italy’s Renzi launches last day of frantic referendum campaign Matteo Renzi quits after losing reform referendum Italy PM Renzi to hand in resignation on Friday – parliamentary source