Italian banking system solid, don’t worry, Padoan says

Hot Ecofin meeting for the Italian Finance Minister Padoan, who wanted to intervene in defense of the Italian system: "There is a perception of the Italian banking system that is totally distorted in terms of numbers, of suffering, of what you need to capitalize", and "the fact that someone says that is generated as high risk is totally unfounded."

Continuing in his meeting with the press, he added: "The banking system remains solid, sure went from three years of deep recession from which it is coming but there are very few specific critical issues."

"In discussing the Brexit we were in agreement that has given rise to instability in the European banking system and not only", so there is no identification "only in the Italian system." In Europe, "there is concern there is curiosity about what you are doing both at market level of government intervention, which is seen as a useful example," said Padoan.

In addition, the Minister said he was confident of the Government's ability to read the situation as it "is committed to finding a precautionary solution to support any possible case of intervention necessary, we already introduced the precautionary liquidity, and everything will be done in full protection of families and of savers. "