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Italy confident banks will fill capital gap with market operations

Published 28/10/2014, 09:12
© Reuters Italy's Minister of Economy and Finance Pier Carlo Padoan speaks during a discussion during the World Bank/IMF annual meetings in Washington
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MILAN (Reuters) - Italy's economy minister said on Tuesday he was confident that the two Italian banks which face a capital shortfall after EU-wide stress tests of lenders will replenish it through "market operations."

Monte dei Paschi di Siena (MI:BMPS) and Carige (MI:CRGI) face shortfalls of 2.1 billion euros (1.67 billion pounds) and 814 million euros respectively.

© Reuters. Italy's Minister of Economy and Finance Pier Carlo Padoan speaks during a discussion during the World Bank/IMF annual meetings in Washington

Asked by reporters how the two lenders will fill the deficit, Economy Minister Pier Carlo Padoan said he was "confident that the shortfall will be addressed with market operations."

(Reporting by Elvira Pollina)

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