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.

Also read: ECB's Villeroy say Basel bank capital proposals must be modified to reach a deal

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