Italy’s $21 Billion Bank Rescue Fund Is Sufficient, Visco Says

Italy’s 20 billion-euro government rescue fund is sufficient to recapitalize the country’s troubled banks, and about a third of money will be used for Banca Monte dei Paschi di Siena SpA, Bank of Italy Governor Ignazio Visco said. “This measure is an important one for Italy as it emerges from the crisis that buffeted its economy and banking sector,” Visco, a member of the European Central Bank Governing Council, said on Saturday in a speech at the annual Assiom-Forex conference in Modena, near Bologna.