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U.S. Markets

Italy will stick to 'mini-BOT' plan unless someone has a better idea: Salvini

ROME (Reuters) - Italy’s Deputy Prime Minister Matteo Salvini said on Tuesday Rome would press ahead with a plan to settle overdue state payments by issuing mini-bills unless a better solution was put forward.

The mini-bills would be “a tool to pay state debts towards families and suppliers. If there is a smarter way of doing this someone should say so, otherwise we’ll stick to it,” Salvini said on the sidelines of a conference in Rome.

The mini-BOTs, named after short-term bills or BOTs, are a proposal of Salvini’s far-right League party. They have raised concerns among investors they could become a parallel currency.

Speaking in London on Tuesday, Economy Minister Giovanni Tria, said mini-BOTs were not on the agenda.

Reporting by Francesca Piscioneri, editing by Valentina Za

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