January 11, 2019 / 8:24 AM / a month ago

Nationalisation is not the only option for Carige - 5 Star lawmaker

ROME, Jan 11 (Reuters) - The nationalisation of Italy’s troubled bank Carige is one option on the table but the ruling 5-Star Movement hopes the lender’s capital could be strengthened with private investments.

“Nationalisation is one of the options, not the only one. We hope the lender can stand on its own two feet,” 5 Star’s lawmaker Gianluigi Paragone said in an interview with Italy’s Radio 24.

The Italian government has already set up a 1.3 billion euro ($1.50 billion) fund to support Carige after the European Central Bank last week put the Genoa-based bank under temporary administration, following a failed attempt to raise capital from investors.

$1 = 0.8681 euros Reporting by Giselda Vagnoni

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