February 12, 2015 / 1:07 PM / 3 years ago

Italy's cabinet to examine bad bank plan on Feb 20 - PM

BRUSSELS, Feb 12 (Reuters) - Italy's cabinet minister will examine a state-sponsored initiative to help domestic banks get rid of soured loans on Feb. 20, Prime Minister Matteo Renzi said on Thursday.

Renzi spoke to journalists as he left a socialist leaders summit in Brussels.

Italian banks are saddled with 184 billion euros ($209 billion) in bad loans which they are struggling to offload as market for these assets has not developed so far. ($1 = 0.8816 euros) (Reporting by Francesco Guarascio, writing by Valentina Za)

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