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)

Subscribe to our newsletter

Join Weird Italy, Guide to Places and People in Italy

Weird Italy 35d34cee42cbb06848a4b6ac844a4ae7?s=116&d=mm&r=g Italy 'No' vote will make it harder for banks to raise money - economy min Latest Italian News and Videos  referendum Pier Carlo Padoan Monte dei Paschi di Siena
WeirdItaly
Lifestyle weblog about everything that happens in Italy: photography, places, people, fashion, Italian movies and books, news and much more
22FansLike
1,138FollowersFollow
238SubscribersSubscribe

Italy, two gangs broke arms, legs, to defraud insurance companies, 42 arrests

The two gangs in Palermo were especially looking for desperate young people and women to stage false accidents to defraud insurance companies. They offered 300...

The Manifesto of Futurist Cooking, A Meal that Prevented a Suicide

The ultimate aim of Futurist cuisine is the abolition of mediocrist daily life in the pleasures of the palate, represented above all by pasta,...

A secret organization fixing Rome’s broken pavement illegally

Around the streets of Rome, twenty hooded activists, quietly fix potholes, paint pedestrian crossings and collect the rubbish, without official permission – is technically...

Italian soccer player Candreva will pay the school canteen fee for the child forced...

Inter player Antonio Candreva has decided to help the child forced to eat tuna and crackers at school due to the parents' failure to...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close