June 17, 2010 / 6:19 AM / 10 years ago

Barclays to continue investing in Italy-report

MILAN, June 17 (Reuters) - British bank Barclays (BARC.L) is not worried about Italy’s public finances and will continue to invest in the euro zone country, its CEO said in an interview with an Italian newspaper published on Thursday.

“We had strong growth in Italy in the last 10 years. We continue to consider it a strategic country in which to invest following our guidelines: in retail and wealth, and in corporate and investment banking,” John Varley told Il Sole 24 Ore.

He said Italy traditionally had a high level of debt but also a track record in addressing its finance problems.

“The high level of debt compared to GDP is not new, while the low level of household debt is particularly reassuring,” he told the newspaper. (Reporting by Danilo Masoni; Editing by David Holmes)

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