Monti: Berlin-Paris help Athens more due to high exposure

Italian banks aren't as exposed, PM says

02 August, 13:22

(ANSAmed) - HELSINKI, AUGUST 2 - Germany and France give a more significant contribution than Italy in the bid to save Greece from its crisis given the "high exposure" of their banks in the country, which is higher than that of Italian financial institutions, Italian Prime Minister Mario Monti said today in Helsinki.

"We don't ask and don't obtain any form of support from any mechanism", Monti told a congress organized by the Finnish business union. "We are the third largest EU contributor and we are the third main contributor in the aid awarded to save Ireland, Portugal and the Spanish banking system".

"But if we calculate the net amount, we are much closer to Germany and France. The reason why is that they are bigger and contribute more but everyone knows that a part of these sums returns in terms of support to German and French banks which are highly exposed with Greece, while Italian banks have no such exposure", said the prime minister. "That is to say that there is sometimes a significant gap between what is perceived by all and the reality. We must all work together to get a more in-depth knowledge of the situation of other countries".

(ANSAmed).

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