Italy: ‘Progress’ in talks with Brussels over broken banks

Italy said yesterday that it is “making progress” in protracted talks with Brussels over the best ways to inject much-needed money into its broken banks.

Rome and Berlin have been at loggerheads in recent weeks over an Italian plan to inject taxpayers’ money into its weakest lenders, including Monte dei Paschi di Siena.

In Brussels for a Eurogroup meeting, Italian finance minister Pier Carlo Padoan said his government was “making progress” on the issue with the European Commission.