March 20, 2019 / 9:30 AM / a month ago

Italy will consider possible damage claim over EU ruling on Tercas failure

ROME (Reuters) - Italy will consider taking legal action against the European Commission to seek compensation over a decision to reject a rescue plan for ailing bank Tercas, the Italian foreign minister said on Wednesday.

European Union judges ruled on Tuesday that Italy’s rescue plan for ailing Tercas bank in 2014 was legal and annulled a European Commission’s decision that rejected the plan and forced Rome to recoup financial aid to the lender.

“It is an important ruling...We will evaluate the situation,” Foreign Minister Enzo Moavero Milanesi told reporters when asked whether Rome could seek compensation claims from the EU.

Reporting by Stefano Bernabei, writing by Maria Pia Quaglia, editing by Silvia Aloisi

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