Italy denies report it is ready to defy Brussels to help its banks

July 4, 2016 7:33 AM

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ROME, July 4 Italy has no plans to defy EU rules by pumping billions of euros of public money into its banks, and intends to fully respect EU rules, the spokesman for Prime Minister Matteo Renzi said on Monday, denying a report in the Financial Times.

"Italy has no intention of defying Brussels on the banks. We respect the rules and prefer market solutions for our banks," said the spokesman.

Also read: Italy's Carige aims to sell 1 bln euros of bad loans by end-February

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