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Italy government support for Carige is temporary: PM

Published 01/08/2019, 02:23 PM
Updated 01/08/2019, 02:25 PM
© Reuters. FILE PHOTO: The Carige bank logo is seen in Rome

ROME (Reuters) - The Italian government's intervention to support troubled lender Carige (MI:CRGI) is a temporary measure, Prime Minister Giuseppe Conte said on Tuesday, adding he expected the bank to recover and seek a merger with a rival.

Speaking during the pre-recording of a television interview, Conte said he and his two deputy prime ministers who lead the ruling parties were all in favor of helping the bank.

The government decided on Monday to issue a decree giving Carige access to state-backed guarantees for new bond issues and funding from the Bank of Italy.

© Reuters. FILE PHOTO: The Carige bank logo is seen in Rome

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