Financial Times FT.com

Parmalat report targets international banks

By Tony Barber in Rome

Published: July 23 2004 05:00 | Last updated: July 23 2004 16:34

International banks spent years propping up Parmalat with billions of euros even when the Italian food group was in deep financial trouble and engaging in deception, according to Parmalat's government-appointed administrator.

In a report to be sent next week to the Italian industry ministry, Enrico Bondi has made his clearest comments yet that the banks bear some responsibility for the scale of the disaster that forced Parmalat into collapse last December.

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