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8 months ago
ECB should discuss views on Monte Paschi with Italy - PM Gentiloni
December 29, 2016 / 12:19 PM / 8 months ago

ECB should discuss views on Monte Paschi with Italy - PM Gentiloni

Italy's Prime Minister Paolo Gentiloni gestures as he holds a traditional end-year press conference in Rome, Italy December 29, 2016.Alessandro Bianchi

ROME (Reuters) - The European Central Bank should discuss with Italy the reasons behind its assessment that Banca Monte dei Paschi had a greater need for capital than previously thought, Prime Minister Paolo Gentiloni said on Thursday.

"It is important that the motives for this assessment are shared in discussions in the coming months," Gentiloni told a news conference.

He added he had been surprised on Dec. 25 to receive news that the regulator wanted Monte Paschi to plug a capital shortfall of 8.8 billion euros (7.5 billion pounds), higher than a previous estimate of 5 billion euros.

Reporting by Giselda Vagnoni, writing by Isla Binnie, editing by Gavin Jones

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