Germany’s Schaeuble says Italy has handled bank issue well

German Finance Minister Schaeuble attends a news conference in Berlin

BRUSSELS (Reuters) – German Finance Minister Wolfgang Schaeuble said on Monday that Italy had “done very well” in handling problems with troubled banks and said its actions were a good basis for further improvements.

“Things have gone very well in Italy,” he told reporters on arrival at a meeting of euro zone finance ministers where problems with bad loans in the banking system are on the agenda.

“Italy has done very well in a difficult situation and I think it’s a good basis for us to continue our work, including Italy itself of course. Of course, they also have a complicated political situation but step by step things are getting better.”

(Reporting by Alastair Macdonald; editing by Francesco Guarascio)