EU asks Italy to take measures on bad loans by end year

May 13, 2015 12:08 PM

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MILAN May 13 The European Commission on Wednesday urged Italy to take measures by end-year to help its banks' accelerate the reduction of their bad loans, and also called for a reform of the shareholder structure of the country's lenders.

"Further restructuring and consolidation of the Italian banking sector is warranted to... support the economic recovery," the EU executive arm said in its annual economic policy recommendations.

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