Italy's cabinet to examine bad bank plan on February 20 - PM

Reuters

Updated 12 February 2015 at 7:22 am

BRUSSELS (Reuters) - Italy's cabinet minister will examine a state-sponsored initiative to help domestic banks get rid of soured loans on Feb. 20, Prime Minister Matteo Renzi said on Thursday.

Renzi spoke to journalists as he left a socialist leaders summit in Brussels.

Italian banks are saddled with 184 billion euros (137 billion pounds) in bad loans which they are struggling to offload as market for these assets has not developed so far.

(Reporting by Francesco Guarascio, writing by Valentina Za)

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