Italy counting on market solution to help MPS -govt adviser

July 26, 2016 2:44 PM

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ROME, July 26 Italy is counting on the markets to help struggling bank Monte dei Paschi di Siena and is hopeful that state aid will not be needed to overcome its various problems, government adviser Yoram Gutgeld said on Tuesday.

"We are aiming for a market solution. The goal, which we think is achievable, is for a market solution which in the first phase involves a reduction of non-performing loans, and then after that a recapitalisation," said Gutgeld.

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