Italian banks are estimated to hold around £270billion of bad loans - more than 30 per cent of the eurozone's total - which experts worry could spark another financial crisis for the country.
Backed by the government, financial institutions have now agreed to a £4billion package aimed at helping the Italy's most troubled banks.
The cash is to be used to buy the high risk loans, as well as injecting money into firms where there are worying shortfalls.
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