Italy banks struggling to find funds on markets: financial panel

ROME: Italian banks are experiencing difficulties raising funds on international markets but have ample room to raise funds through euro system financing, a meeting of the country's financial stability committee concluded on Wednesday.

The committee, chaired by Economy Minister Giulio Tremonti, also said Italy is making progress towards its aim of balancing the budget in 2013 and state sector borrowing requirements are lower than forecast, according to recent data.

The Treasury said in a statement following the meeting that Italian bank capital had grown in 2011 through capital hikes and other measures, and would be further reinforced through Europe-wide measures.