January 22, 2016 / 11:50 AM / 4 years ago

EU's Vestager to meet Italian finmin on Jan. 26 on bad bank loans

BRUSSELS, Jan 22 (Reuters) - EU Competition Commissioner Margrethe Vestager will meet the Italian finance minister on Jan.26 in Brussels, a spokesman for the EU executive said on Friday, as talks for a solution to Italian banks’ bad loans reach a critical point.

“Commissioner Vestager will meet Minister of Finance Pier Carlo Padoan next Tuesday,” the spokesman told a news conference, replying to a question on whether a deal is possible in the coming days after Italy proposed a new plan last week.

Rome and Brussels have been negotiating for more than a year what to do with non-performing loans burdening Italian banks since the 2009-2012 euro zone debt crisis.

A technical meeting between Italian and Commission representatives is scheduled on Friday in Brussels, but has not yet started, the spokesman said. (Reporting by Francesco Guarascio)

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