Italian ‘bad bank’ plan
17.12.2015
Question for written answer E-015910-15
to the Commission
Rule 130
Andrea Cozzolino (S&D) , Renato Soru (S&D) , Alessia Maria Mosca (S&D) , Isabella De Monte (S&D)
The European Banking Union and Single Supervisory Mechanism have imposed stringent criteria on banks as regards the classification of loans, resulting in an increased number of non-performing loans (NPL).
The existence of these NPL have, in actual fact, led to a restriction in credit supply to the real economy and in particular to small and medium-sized enterprises (SMEs).
The establishment of a ‘bad bank’ or similar instrument could help to revitalise the economy.
Italy is going through an ambitious process of economic recovery, undertaking structural reforms in all sectors and, over the past few years, unlike other Member States, has resorted to public intervention only in a limited manner, including in the banking sector.
Spain, in 2011, used public funds to set up a bad bank, as did Ireland in 2009 and Portugal.
The application of EU state aid legislation should be applied in a uniform manner over time throughout the EU, in order to avoid macroeconomic asymmetries and distortions of the internal market.
Can the Commission therefore answer the following questions:
- 1.Why was the Italian ‘bad bank’ plan not approved?
- 2.Does the Commission not agree that the failure to approve this plan, by reducing the banking system's ability to grant loans, could have an adverse effect on Italy's growth prospects?