November 20, 2017 / 2:39 PM / a year ago

No joint deposit insurance if bad loans not tackled - ECB's Draghi

FRANKFURT, Nov 20 (Reuters) - There cannot be a common European deposit insurance scheme (EDIS) if the issue of unpaid loans affecting banks in Italy and other southern countries is not tackled, the European Central Bank’s President Mario Draghi said on Monday.

“The NPL (non-performing loans) issue and the EDIS are interlinked,” Draghi told the European Parliament.

“Risk reduction and risk sharing should go in parallel ... and NPLs are part of this,” he added. (Reporting by Francesco Canepa; Editing by Alison Williams)

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