Italian banking system solid, has tools to tackle bad loans

July 27, 2016 1:59 PM

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ROME, July 27 Italy's Economy Minister said on Wednesday that the nation's banking system is fundamentally solid and it will wind down its massive holdings of bad loans over time.

European rules allowing the government to guarantee the bundling of some non-performing loans and a private fund set up to help take them off bank balance sheets provide Italy with the tools needed to tackle the problem of soured debt.

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