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Italy's economy minister Pier Carlo Padoan on Friday said in an interview that the rescue plan by JP Morgan and Mediobanca aimed at saving Banca Monte dei Paschi di Siena will work.
The minister told La Stampa daily that he is confident the plan is well designed and will work.
Padoan also said the Sept. 30 deadline to sell four small banks that Italy rescued in November last year would be extended.
