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)

Previous

Italian fire brigade rescue cat 16 days after quake

Italy’s Renzi launches last day of frantic referendum campaign

Next

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

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