Italy's Renzi says bad bank should have been done before

January 21, 2016 7:28 PM

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ROME Jan 21 Italy should have set up a bad bank to hold lenders' bad loans before Europe tightened its rules on bank rescues, Italian Prime Minister Matteo Renzi said on Thursday.

"Even if we reach a deal over the week-end it would not be decisive... (the bad bank) should have been done before the new rules came into force," Renzi told Italian state broadcaster RAI Uno on Thursday.

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