January 9, 2019 / 7:20 AM / a month ago

Govt help for Italy's Carige avoided worsening of bank run-League official

MILAN, Jan 9 (Reuters) - Italy’s support for Banca Carige was needed to avoid the worsening of a bank run that had already started at the ailing lender, an official at the ruling League party told newspaper La Repubblica on Wednesday.

Claudio Borghi, who is the economics spokesman for the right-wing party, also said on Twitter that a merger between state-controlled lender Monte dei Paschi di Siena and Banca Carige was an option.

He acknowledged, however, that a tie-up between the two troubled banks would be against an ongoing rescue plan of Monte dei Paschi agreed with the European Commission.

Reporting by Francesca Landini; editing by Jason Neely

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