ROME (Reuters) - Italian Economy Minister Pier Carlo Padoan said on Wednesday the country's banks are not in systemic crisis and pose no threat to other banking systems.
Padoan was addressing parliament in Rome the week after two of its largest banks, Monte dei Paschi di Siena (MI:BMPS) and UniCredit (MI:CRDI) fared badly in regulatory stress tests.
"The Italian banking system is not in systemic crisis nor is it a source of vulnerability for other banking systems," Padoan said.
