June 28, 2016 / 8:51 AM / 3 years ago

Renzi says Europe ready to help Italy's banks, but not needed now

BRUSSELS, June 28 (Reuters) - Italian Prime Minister Matteo Renzi on Tuesday said European institutions are ready to step in to support the nation’s banks if necessary, but they do not currently need help.

“In this moment, I’m very sure about banks,” Renzi said in an interview from Brussels with CNN.

Italian bank shares slumped badly after Britain voted to leave the European Union. Sources said on Monday Italy was preparing to protect its banks from a destabilising share sell-off.

European institutions are ready to step in to protect people’s bank savings “if necessary, for the moment not... So don’t worry for that”, he said.

Reporting by Steve Scherer, editing by Isla Binnie

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