December 29, 2016 / 12:19 PM / a year ago

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

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.

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

“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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