Italy denies report on EU bank bailout revolt
A spokesman for Italian PM Matteo Renzi said on Monday the country will not proceed with a national bailout fund for banks in the teeth of EU rules. "Italy has no intention of defying Brussels on the banks. We respect the rules and prefer market solutions for our banks," he said according to Reuters. The FT earlier reported, citing officials and bankers, that Renzi was "ready to defy Brussels".