Governor of the Banca d'Italia Ignazio Visco arrives to attend a press conference at the end of a G7 summit of Finance Ministers on May 13, 2017 in Bari. AFP / Alberto PIZZOLI
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Italy's troubled banks may suffer an additional 10 billion euros ($11 billion) in losses from the sale of their bad loans at current market prices, said Ignazio Visco, Bank of Italy governor and ECB governing council member.Italy is struggling to fix a crisis legacy of about 360 billion euros of soured loans in its banks' balance sheets that is holding back credit and weighing on the country's weak recovery. Italian authorities are trying to prop up Banca Monte dei Paschi di Siena SpA and two banks in the northern region of Veneto, using a provision in the EU's bank-failure rules that allows governments to provide state aid.
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