(Corrects day of the week to Monday in first paragraph)
MILAN, June 17 (Reuters) – An Italian parliamentary committee is set to approve later on Monday a tax measure to spur mergers among banks based in the countrys poorer south, a lawmaker of the ruling League party said, warning of lenders in the region at risk of default.
Were tackling an urgent issue, Giulio Centemero, a member of the lower Chamber of Deputies, told Reuters. Banks are key for the Italian economy and … in the south there are troubled lenders that could go bust or have insufficient capital.
The measure will apply to southern lenders not yet declared insolvent that pursue a merger within 18 months, booking losses as part of the process.
The measure allows the merged e…
Read the full article at: https://www.reuters.com/article/eurozone-banks-italy/refile-italy-set-to-approve-tax-measure-to-ease-mergers-of-southern-banks-mp-idUSS8N23O000