The Financial Times on comments from Pier Carlo Padoan, the Italian finance minister, reporting he:

  • Has denied that Italy's banks are suffering from systemic problems
  • Rejected a "bail-in" of private investors
  • Said there were a few critical cases, these are 'contained'
  • "We are going in the right direction, there is no risk in terms of systemic stability"

He was speaking at the G20 meeting

FT is here, gated

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If you are a depositor at an Italian bank are you comforted by the finance ministers rejection of a 'bail in'?