December 1, 2010 / 5:49 PM / 9 years ago

Italy's financial, banking system solid-panel

ROME, Dec 1 (Reuters) - Italy’s financial and banking system is solid and can face up to “situations of tension” on euro zone financial markets, the country’s financial stability committee said after a meeting on Wednesday.

The Financial Stability Safeguard Committee, which includes representatives of the Bank of Italy and market watchdog Consob, met on Wednesday for an update on financial markets, it said in a statement.

“The intrinsic solidity of the Italian financial and banking system and its ability to face up to situations of tension were confirmed,” the statement said. Economy Minister Giulio Tremonti decided on Tuesday to call a meeting of the panel as the premium required by investors to hold Italian government bonds rather than benchmark German debt hit a new euro lifetime high, prompting concern Italy could be hit by the spreading euro zone debt crisis.

Reporting by Silvia Aloisi

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