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Foreign news: Italian banks to sell bad loan to Government

11 April 2016 3:45PM
Italian banks will meet with the country's Treasury this week to work out a plan to set up a state-supported fund to buy bad loans, Reuters reports. The Italian banking system performed badly in stress tests carried out by the European Central Bank and the Italian Government is keen to allay concerns about the country's banking system. The country's banks have an estimated US$410 billion of bad loans.

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