Italian firms have been given a seven-month
extension to join a moratorium scheme for their loans and
leases.

Italy’s Ministry of Economy and Finance, the
country’s banking association ABI and employers’ representatives
have agreed to postpone the deadline for the moratorium to January
31, 2011.

The scheme enables firms to obtain a 12-month
payment holyday on their loans and real estate leasing agreements
and a 6-month payment holiday for all other leasing agreements.

By end of April 2010, Italian banks and
lessors had received a total of 185,000 requests to join the scheme
– of which 142,000 have been approved.

Antonio Fabrizio