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Italy will not need to tap euro zone bailout fund: minister to paper

11/01/2017 11:00
Italy will not need the support of the European Stability Mechanism (ESM), Economy Minister Pier Carlo Padoan told an Italian newspaper, adding that troubled lender Monte dei Paschi (BMPS.MI) is healthy and will return to profit.

"We will not need it," Padoan told La Repubblica on Wednesday when asked about the possibility that Rome tapped the euro zone bailout fund for financial support.