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Eurozone Not Planning Italy Aid Program

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The euro zone bailout fund is not preparing financial support for Italy though some individual Italian banks have problems and need to raise capital, the head of the fund said on Friday.

Klaus Regling spoke two days after the Italian daily La Stampa reported that Italy was set to ask the ESM for a loan of 15 billion euros, quoting sources from the Treasury.

“We are not preparing anything. There are lots of rumours … but this is not the case, we have not been approached by the Italian government (for help),” Regling told reporters in the Finnish capital Helsinki.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
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