Giselda's Feed
Sep 9, 2015

ECB sets modestly higher capital targets for Italian banks – sources

MILAN, Sept 9 (Reuters) – The European Central Bank has
pushed up modestly the overall minimum capital requirements for
13 Italian banks following a review of levels of risk in banks
in the euro zone, two sources close to the situation said.

One of the sources said the 13 Italian banks currently
already had capital levels above the ECB’s new requirements,
except for unlisted lenders Veneto Banca and Banca Popolare di

Sep 4, 2015

Italy may rescue three small lenders with bank fund -source

ROME, Sept 4 (Reuters) – Italy is working on a plan to
recapitalise three small lenders under special administration by
raising cash through a fund financed by healthy banks, a
financial source told Reuters on Friday.

The banks are Cassa di Risparmio di Ferrara (Carife), Banca
Marche and Banca Popolare dell’Etruria e del Lazio, all
of which were placed under special administration by the Bank of
Italy because of serious capital shortfalls.

Feb 25, 2015

Italy selling 5.7 pct of Enel to raise more than 2 bln euros

ROME/MILAN, Feb 25 (Reuters) – The Italian government
started selling a 5.74 percent stake in state-controlled utility
Enel on Wednesday in a deal that could earn it around
2.2 billion euros ($2.5 billion).

The sale is the first in a raft of planned privatisations to
reduce its 2 trillion-euro debt pile that will bring cash
directly into the state’s coffers. So far, Italy has publicly
listed state broadcaster Rai’s network unit Rai Way
and shipbuilder Fincantieri.

Feb 20, 2015

Italy accelerates bad bank plan to tackle sour loans problem

ROME, Feb 20 (Reuters) – Italy is working on a solution to
one of its biggest economic woes — banks stuffed with loans
that are not being repaid — aiming within weeks to create a
company backed by state guarantees to hold the souring credit,
government officials say.

Economy Minister Pier Carlo Padoan met the Bank of Italy on
Friday to accelerate the plan, according to one official. Rome
is talking to the European Union to make sure the new company
does not violate the bloc’s state aid rules.

Jan 23, 2015

Merkel says euro zone reforms must continue after ECB move

FLORENCE, Italy (Reuters) – The European Central Bank’s bond-buying program must not be used as a justification by euro zone governments to slacken economic reforms, German Chancellor Angela Merkel said on Friday.

The ECB announced on Thursday it would pump hundreds of billions of euros in new money into a sagging euro zone economy despite opposition from Germany’s Bundesbank and widespread misgivings among politicians in the euro zone’s largest economy.

Oct 28, 2014

Italy’s Monte Paschi discussing capital options with government

ROME, Oct 28 (Reuters) – Italy’s Treasury has not ruled out
extending repayment deadlines on hundreds of millions of euros
in state aid to help troubled lender Banca Monte dei Paschi di
Siena as it struggles to raise fresh capital, a person close to
the matter said on Tuesday.

Officials, who declined to be cited by name, said Monte dei
Paschi Chairman Alessandro Profumo and Chief Executive Fabrizio
Viola had held meetings in the Economy Ministry on Monday to
seek options for the bank, after it failed European Central Bank
stress tests.

Aug 13, 2014

Telecom Italia CEO meets Vivendi’s Bollore on GVT deal

ROME/MILAN, Aug 13 (Reuters) – Telecom Italia
Chief Executive Marco Patuano met Vivendi chairman Vincent
Bollore on Wednesday to discuss an offer for the French group’s
Brazilian broadband unit GVT, two sources with knowledge of the
matter said.

Although no bid has yet been made, Telecom Italia is
proposing to merge its Brazilian mobile business TIM Brasil
with GVT, and in exchange Vivendi would take a stake
in the Italian group, one of the sources said after the meeting.

Jul 25, 2014

Death row Christian woman flies out of Sudan, meets Pope

ROME/KHARTOUM (Reuters) – A Sudanese woman who was sentenced to death for converting from Islam to Christianity, then detained after her conviction was quashed, flew into Rome on an Italian government plane on Thursday and hours later met the Pope. Mariam Yahya Ibrahim, whose sentence and detention triggered international outrage, walked off the aircraft cradling her baby and was greeted by Italian prime minister Matteo Renzi.

Soon afterwards, Ibrahim, her husband and two children had a private meeting with Pope Francis in the Vatican. “The Pope thanked her for her witness to faith,” Vatican spokesman Father Federico Lombardi said. The meeting, which lasted around half an hour, was intended as a “sign of closeness and solidarity for all those who suffer for their faith,” he added.There were no details on what led up to the 27-year-old’s departure after a month in limbo in Khartoum, but a senior Sudanese official said it had been cleared by the government.

Jul 24, 2014

Sudanese death row Christian woman arrives in Italy

ROME/KHARTOUM (Reuters) – A Sudanese woman who was spared a death sentence for converting from Islam to Christianity and then barred from leaving Sudan flew into Rome on Thursday on an Italian government plane, officials said.

Mariam Yahya Ibrahim, whose sentence and detention triggered international outrage, arrived at Rome’s Ciampino airport with her family and Italy’s vice minister for foreign affairs, Lapo Pistelli, television pictures showed.

Jun 23, 2014

EU draft urges more focus on growth, jobs

BRUSSELS/ROME, June 23 (Reuters) – European leaders will
consider calls to interpret EU budget rules with more emphasis
on economic growth, according to the draft conclusions of a
direction-setting summit in Brussels this week.

The document drafted by European Council President Herman
Van Rompuy in consultation with Italy, the next country to hold
the rotating EU presidency, marks an effort to reset the EU
agenda away from the budget cuts and tax squeezes that
characterised the initial reaction to the euro zone debt crisis.