Banks: Padoan, next week in CDM measures of suffering and Bcc – Il Sole 24 Ore

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This article was published on 23 January 2016 at 13:07.
The last change is the January 23, 2016 at 13:54.

The next week the government will introduce measures to encourage the sale of impaired loans. This was stated by Minister of Economy Davos Pier Carlo Padoan in an interview with Bloomberg TV, stressing that banks Italy has “a very positive dialogue” with the EU and that it expects an “acceleration” with regard to the solution of the node suffering. “At the Council of Ministers next week – anticipated Padoan – there will be a set of measures for the banking system.” The measures should include “self-reform of the credit cooperative” with the aggregation around a group similar to the French Credit Agricole, and further measures to facilitate the disposal of impaired loans to banks in the stomach.

No comment on threshold bad bank guarantees

As reported yesterday by the spokesman for the European Antitrust, Tuesday, in Brussels, the Commissioner for Competition Margarethe Vestager meet with Italian Minister of Economy to discuss the agreement on measures to manage non-performing loans (bad bank ). According to EU sources, the node is not represented by the prices at which these loans would be transferred: the problem is instead on how government guarantees for these operations would be granted “market conditions.” Point on which “we can not say anything,” Padoan replication to a question about rumors that the EU, in the negotiations on the “bad bank light” Italian, has set a threshold of 40 billion on guarantees to non-performing loans.

Italian proposal: an umbrella state on Npl

The Italian proposal is not a traditional form of bad bank, but a sort of “umbrella” that state It opens on npl liquid to facilitate disposal. The European antitrust wants to be sure that the price of collateral reflects the market price, ie the banks that will buy the npl have to pay the same price that would apply to another market player. After the technical comparison will however need a political step, which could take place even before the Vestager-Padoan on Tuesday

solid banking system

Padoan also reiterated in the closing press conference of the International Forum, the Italian banking system “is solid” and that the fundamentals are stronger than you think the market. On the collapse of stocks of Italian banks it has again sottolinaeato that weighed a “communication management unwise to supervisory ECB.” About the losses came to 50% on certain titles, Padoan said that because of that mistake, “there has been a redistribution of wealth.”

MPS has a valid business plan
From Davos Minister confirmed that Monte dei Paschi has a “valid business plan” and fundamental very good. In his interview to Bloomberg adds that with respect to the node of the consolidation of the banking sector is “not my job” to interfere in the process of mergers and acquisitions. “

less pessimistic than they have said markets

From the World Economic Forum shows “less pessimistic” than they have said markets, with economy, global and also Italian, which “continues to grow,” the minister said on the sidelines of meetings which included discussion of new technologies and their impact on growth. “There is consensus that the growth prospects offered by new technologies are more than you read.” And then he urges Italy “must catch up and is one of the issues on which the government’s commitment will be strengthened.”

Risky suspend Schengen

In the press conference that took place at lunchtime, in the closing day of the International Economic Forum in the Swiss town, the Padoan minister also spoke of the migrants and the real risk that it suspended the Schengen Treaty. It would be “disturbing and dangerous” suspend the treaty said Minister of Economy. “Some did and if other countries decide that – he said – it would create a weak point because it would be dangerous to national responses to a European problem.”

“If you break down the roads of communication and get up walls – insisted Padoan – is a sign that mutual trust is not there anymore.” As the hub of European contributions to Turkey, Padoan points out “the Italian position is clear: we are not against but rather clearly in favor” of the creation of a fund to create in that country “conditions for a reception more effective.” But, he adds, “we think that the European strategy can be improved.” Within this European policy, recalled the minister, “we disagree” on two points, namely, “because you can not make further efforts to find the resources in the EU budget (and this can also be an opportunity to rethink the European budget) and what we do with this money, what is the strategy, what is the Marshall Plan “for migrants

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