January 7, 2019 / 6:53 PM / 16 days ago

Italy cabinet to issue decree on Carige to keep situation under control: government source

ROME (Reuters) - The Italian cabinet will meet later on Monday and issue a government decree aimed at “keeping the situation under control” at the troubled Banca Carige (CRGI.MI), a government source said.

Ministers have been summoned to a cabinet meeting at 9.00 p.m. (2000 GMT) with no explanation given for the unexpected call up.

The European Central Bank (ECB) last week selected three commissioners to try to save the Genoa-based bank after the Malacalza family, Carige’s biggest stakeholder, blocked a share issue that was part of an industry-financed scheme to stave off a collapse.

Reporting by Giuseppe Fonte; Editing by Crispian Balmer

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