Italy says banks have nothing to fear from ECB risk assessment

ROME Wed Oct 23, 2013 12:20pm EDT

Italy's Economy Minister Fabrizio Saccomanni speaks to reporters at the close of the G7 Finance Ministers and central bank governors summit at Hartwell House in Aylesbury, southern England May 11, 2013. REUTERS/Yui Mok/POOL

Italy's Economy Minister Fabrizio Saccomanni speaks to reporters at the close of the G7 Finance Ministers and central bank governors summit at Hartwell House in Aylesbury, southern England May 11, 2013.

Credit: Reuters/Yui Mok/POOL

ROME (Reuters) - Italy's banking system faces no threat from the European Central Bank's upcoming review of risk in the banking sector, Economy Minister Fabrizio Saccomanni said after the tests were outlined on Wednesday.

"Italy has nothing to fear, the Italian banking system has shown itself to be among the most solid of all the developed economies despite an extremely long crisis which has brought others to their knees," he said in a statement.

(Reporting By James Mackenzie)