October 25, 2018 / 5:35 PM / 22 days ago

Up to ECB to intervene if banking crisis were to arise: Italy minister

European Affairs Minister Paolo Savona holds a press conference at the Foreign Press Club in Rome, Italy June 12, 2018 REUTERS/Alessandro Bianchi

ROME (Reuters) - If the spread between Italian and German bond yields rises and nobody intervenes then banks could be put in a difficult situation, European Affairs Minister Paolo Savona said on Thursday.

Savona added it should be up to the European Central Bank (ECB) to intervene if a banking crisis were to arise.

“If the responsibility of the banking system goes through the EU then it should be up to the ECB to indicate solutions to those problems ... and hence intervene should there be a crisis in the banking sector,” Savona told SKY TG24 television.

Reporting by Giulia Segreti; editing by Agnieszka Flak

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