January 9, 2019 / 11:51 AM / 6 months ago

Italy Liguria region head opposes any nationalisation of Carige

FILE PHOTO: he logo of Carige bank is seen in Rome, Italy, April 9 2016. REUTERS/Alessandro Bianchi/File Photo

GENOA, Italy (Reuters) - The head of Italy’s Liguria region said on Wednesday he opposed a potential nationalisation of Banca Carige (CRGI.MI) though he welcome the government’s decision to shore up the ailing local bank.

“Despite the umbrella provided by the government I still believe the economy and the state must remain separate,” Giovanni Toti told a press conference to present the renewal of the contract with Carige as the region’s treasurer.

“I disagree with the nationalisation of banks or other businesses ... I hope capital and partners can be found autonomously for the bank to go on.”

Carige is based in Liguria’s biggest city Genoa.

Reporting by Valentina Za, editing by Stephen Jewkes

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