A European Commission proposal for guidelines on selling bad loans will make the process easier, Italy's Economy Minister said today.
The Commission is due to publish tomorrow a set of proposals designed to tackle the €759 billion of bad loans sitting on European banks' balance sheets.
As well as the Commission proposal, the European Central Bank is working on a new set of rules, which was sharply criticised, particularly in Italy.
"We can say ahead of time that this Commission document smooths the edges of that controversy," Padoan said after a meeting of European finance ministers in Brussels.
"We think it makes the process much more manageable," the Minister added.
