ROME, Nov 25 (Reuters) – Italy will approve by the end of
the year the legal framework for state aid to banks that are
found short of capital in an upcoming health check by the
European Central Bank but it has not set aside any funds, two
sources close to the matter said.
Euro zone governments must set up national backstops to help
lenders that need to raise fresh capital following the ECB’s
sector review and are not able to do so on the market.
ROME, Oct 8 (Reuters) – Loss-making Italian airline Alitalia
risks having to file for bankruptcy if no deal on a
proposed capital increase is reached in a couple of weeks, a
government source said on Tuesday.
Alitalia needs about 500 million euros ($680 million) to
keep going and invest in a new turnaround strategy, analysts
have said, after accumulating losses of more than 1 billion
euros and debt of a similar size since being privatised in 2009.
ROME/PARIS, Oct 7 (Reuters) – Italy’s government will
continue talks with top management at Alitalia on Tuesday to try
to find a way to keep the cash-strapped airline in business
after inconclusive talks on Monday.
Rome is looking for a public entity that could support the
carrier as it readies for a tie-up with a partner, a source
close to the matter said, adding that a merger with rival Air
France-KLM was the most realistic option.
ROME, Oct 7 (Reuters) – Italy’s government has asked the
state railway operator Ferrovie dello Stato to consider
investing in loss-making national airline Alitalia, sources
close to the matter said on Monday, as Rome explores
alternatives to a takeover by rival Air France-KLM.
Air France-KLM said last week it was open to raising its 25
percent stake in Alitalia and possibly merging with its Italian
rival. But a deal is being held up by disagreements over
strategy and finances.
ROME (Reuters) – Senior party figures in Silvio Berlusconi’s fractious center-right movement urged Italian lawmakers on Tuesday to defy the billionaire media tycoon and back Prime Minister Enrico Letta in a confidence motion expected on Wednesday.
Berlusconi’s People of Freedom (PDL) party has come close to breaking apart after he pulled his ministers out of the ruling coalition at the weekend and called for new elections following growing tension over his conviction for tax fraud.
ROME (Reuters) – Silvio Berlusconi on Monday faced dissent within his People of Freedom Party, complicating his plans to bring down Prime Minister Enrico Letta’s coalition government.
But even if Letta survives a confidence vote on Wednesday the prospects for stability and reform in Italy look more fragile than ever as he will face a larger and stronger opposition backed by Berlusconi’s media empire.
ROME, Sept 30 (Reuters) – The capital of Italy’s central
bank could be revalued to as much as 7 billion euros from the
current 156,000 euros, a Treasury document showed on Monday, a
move domestic lenders hope may boost their own balance sheets.
Italian banks own the majority of the central bank’s capital
and have been pushing for their stakes to be revalued as this
could allow them to book a capital gain.
ROME (Reuters) – About 20 Italian center-right lawmakers may break with leader Silvio Berlusconi if he tries to bring down prime minister Enrico Letta’s coalition in a dispute over Berlusconi’s fraud conviction, a center-right party source warned on Monday.
In a move that may give Letta, from the center-left, a chance to save his government following the resignations of five ministers from Berlusconi’s People of Freedom (PDL), some 20 PDL senators will tell the party leader on Monday they may form a breakaway group in the upper house, the source told Reuters.
ROME (Reuters) – Italy could face pressure from international partners if the current political crisis persists and reverberates through the euro zone, Labour Minister Enrico Giovannini said on Sunday.
Speaking a day after Silvio Berlusconi pulled his ministers out of the cabinet, Giovannini said the move — which pulls the rug from under Prime Minister Enrico Letta’s government and lurches the country into another political crisis — is likely to cause some instability on financial markets on Monday.
ROME (Reuters) – Italy’s economy minister has warned against scrapping an unpopular housing tax, stirring a new row in the shaky left-right coalition over the levy which Silvio Berlusconi’s center right wants abolished.
Scarcely a day passes without a new dispute in the government – an uneasy alliance of former adversaries forced to work together after an inconclusive general election – raising speculation it may fall in the autumn.