Bank of Italy sees signs of gradual economic recovery

Banking system solid with distressed areas

Bank of Italy sees signs of gradual economic recovery

Rome, August 5 - The Bank of Italy head on Monday reported more signs that Italy's economy may finally be improving. The revelation took place during a meeting between the governor of the Italian central bank, Ignazio Visco, Premier Enrico Letta and Economy Minister Fabrizio Saccomanni, in which the leaders also discussed Italy's obligations in view of European banking unification. A Bank of Italy source told ANSA that Visco said the recession-hit nation is showing signs of economic recovery, although they are gradual and in need of reinforcement. Italian banks are solid, but distressed areas in the Italian financial system persist, causing the Bank of Italy to pay particular attention to capital ratios, the source added.

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