Italian cabinet considers new business crisis procedures in wake of Parmalat scandal

The Cabinet of the Italian government is meeting today to discuss how to respond to the crisis at dairy-giant Parmalat. The company is facing an Enron-style collapse following the discovery of a huge hole in its accounts which could, according to some analysts, be as much ten billion euros.

Speaking before the Cabinet meeting Industry Minister Antonio Marzano said that as well as specific issues concerned with rescuing Parmalat the Cabinet would consider general proposals that would enable the Italian government to better handle such cases in future and to determine appropriate intervention policies to enable the continuity of crisis-hit businesses to be maintained.

•Date: 23rd December 2003 •Region: W.Europe •Type: Article •Topic: BC general
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