Up to ECB to intervene if banking crisis were to arise: Italy minister

ROME (Reuters) – If the spread between Italian and German bond yields rises and nobody intervenes then banks could be put in a difficult situation, European Affairs Minister Paolo Savona said on Thursday.

Savona added it should be up to the European Central Bank (ECB) to intervene if a banking crisis were to arise.

“If the responsibility of the banking system goes through the EU then it should be up to the ECB to indicate solutions to those problems … and hence intervene should there be a crisis in the banking sector,” Savona told SKY TG24 television.

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