P.O. V.V.I. (BBG) Padoan Says Any Deutsche Bank Plan Must Respect EU Rules: Stampa

P.O.

…That is the question…

…And this is the mind breaking puzzle Berlin has to solve…

…Germany will not have the slightest break from the other euro Countries…

…It will have to bite it’s own venom…

…Let’s hope it will produce the desired and correct effect…

Francisco (Abouaf) de Curiel Marques Pereira

(Bloomberg) — Any state or market plan for Deutsche Bank would have to be within the rules of the European banking union, Italian Finance Minister Pier Carlo Padoan says in interview with newspaper La Stampa.

* Just as the problems of non-performing loans “must be
resolved in a reasonable period of time, that must the case
too for those of Deutsche Bank”
* Asked whether bail-in rules should be applied if there is
German state intervention, says: “We all have problems, we
don’t need punitive solutions, but common solutions. We
often forget it, but financial stability serves citizens
before bankers”
* “Without doubt there are still points to clarify” with
European Commission on Italian budget flexibility
* U.K. delay in triggering Brexit process weighs “a great
deal” on European Commission, says responsibility is not
only Downing Street’s: “I fear a year-long stall, awaiting
the German and French elections”