Italy Treasury minister to speak on banks Tuesday

A man walks in front of the Monte dei Paschi bank in Siena

MILAN (Reuters) – Italy’s Treasury minister will hold a news conference on Tuesday afternoon on “recent developments in the banking sector”, the Treasury said in a note.

The conference will start at 1500 GMT, the Treasury said but gave no further details.

Italy is waiting for the European Commission to give its final green light to a state bailout for Banca Monte dei Paschi di Siena <BMPS.MI> that should include heavy cost cuts and losses for some investors.

In June the Commission said it had agreed in principle on a restructuring plan for the bank so it could be bailed out by the state under new European rules for dealing with bank crises.

(Reporting by Stephen Jewkes, editing by Giulia Segreti)