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29th Mar 2024

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Finance minister defends Italian bank loans

Italy's finance minister Vittorio Grilli said the government conducted itself appropriately when it lent the ailing Banca Monte dei Paschi di Siena bank €3.9bn, reports the Guardian. Grilli said the central bank provided "continuous, attentive [and] appropriate" checks to keep the Siena-based bank in line despite €700m in hidden losses.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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