Italy and the European Commission have agreed on the renewal of a state guarantee scheme aimed at facilitating the sales of bad bank loans.

The former centrist Italian government had approved a scheme entitled Garanzia sulla Cartolarizzazione delle Sofferenze (GACS) which provides financial guarantees for securitised transactions of Non-Performing Loans (NPLs) that allow lenders to offload bad assets.

The so-called ‘GACS’ scheme was due to expire on March 6, but the Italian government reac...

This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now