The difficulties that preceded the agreement on the precautionary recapitalization of Banca Monte dei Paschi di Siena and the long and troubled discussions involving Banca Popolare di Vicenza and Veneto Banca are not due to financial constraints, since the resources earmarked by the Italian government are much greater than those needed to restructure these banks.
The difficulties stem from regulatory obstacles, which can and must be removed. A solution for these two Veneto banks must be outlined very shortly, protecting savers and guaranteeing the continuity of the business relationships maintained by the many small and medium-sized enterprises based in an economically important area of the country. The Italian authorities are totally committed to resolving this problem.