Cabinet Secretary Giancarlo Giorgetti said yes on Wednesday when asked if the nationalization of troubled bank Carige was a "concrete possibility". Premier Giuseppe Conte's government approved an urgent decree to support Carige late on Monday. The decree means the lender will be able to have State guarantees for future bond issues and loans from the Bank of Italy. It will also be able to request a State-backed precautionary recapitalisation if necessary. The two ruling parties, the 5-Star Movement and the League, have come under fire over the move as they were both highly critical of interventions to rescue troubled banks by administrations led by the centre-left Democratic Party (PD) in the past.
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