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Italy government support for Carige is temporary - PM

Italy government support for Carige is temporary - PM
FILE PHOTO: The logo of the Carige bank is seen in Rome, Italy September 20, 2018. REUTERS/Max Rossi   -   Copyright  MAX ROSSI(Reuters)
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ROME (Reuters) – The Italian government’s intervention to support troubled lender Carige <CRGI.MI> is a temporary measure, Prime Minister Giuseppe Conte said on Tuesday, adding he expected the bank to recover and seek a merger with a rival.

Speaking during the pre-recording of a television interview, Conte said he and his two deputy prime ministers who lead the ruling parties were all in favour of helping the bank.

The government decided on Monday to issue a decree giving Carige access to state-backed guarantees for new bond issues and funding from the Bank of Italy.

(Reporting by Albero Sisto, writing by Francesca Landini)

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