Italy to approve new bad loan guarantee scheme by Tuesday: source
ROME (Reuters) - The Italian government will approve a decree to renew a state-backed bad loan guarantee scheme some time between the weekend and Tuesday, a source close to the matter said on Wednesday.
The new scheme, which will have a duration of two years, will cost more than the previous one did due to current market conditions, the two sources said.
It will cover bad loans and not unlikely-to-pay loans, one of the the sources said.
Reporting by Stefano Bernabei and Giuseppe Fonte, writing by Stephen Jewkes