Mario Draghi backed a public bailout of Italy’s troubled banks “in exceptional circumstances”, even as he hailed the eurozone for its resilience in the aftermath of Britain’s decision to quit the EU
and left interest rates on hold.
The remarks by the president of the European Central Bank, at his monthly press conference, helped alleviate concerns about Italian lenders, which have been weighed down by a heavy burden of bad debt and non-performing loans and whose shares have been depressed after the British referendum stoked fears about EU cohesion.
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