Italy government support for Carige is temporary: PM

FILE PHOTO: The Carige bank logo is seen in Rome
FILE PHOTO: The Carige bank logo is seen in Rome, Italy, April 16, 2016. REUTERS/Stefano Rellandini

January 8, 2019

ROME (Reuters) – The Italian government’s intervention to support troubled lender Carige <CRGI.MI> is a temporary measure, Prime Minister Giuseppe Conte said on Tuesday, adding he expected the bank to recover and seek a merger with a rival.

Speaking during the pre-recording of a television interview, Conte said he and his two deputy prime ministers who lead the ruling parties were all in favor of helping the bank.

The government decided on Monday to issue a decree giving Carige access to state-backed guarantees for new bond issues and funding from the Bank of Italy.

(Reporting by Albero Sisto, writing by Francesca Landini)

Source link