Fiat-Chrysler's state-backed loan crucial for Italy's economy - Intesa CEO says
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MILAN (Reuters) - A 6.3 billion euro state-backed loan for Fiat Chrysler (FCA) , financed by Intesa Sanpaolo , is crucial in terms of safeguarding Italy's economy, the head of the country's biggest retail bank said.The state-guaranteed loan has drawn criticism in Italy because FCA, which has moved its legal headquarters to the Netherlands, is working towards a merger with French carmaker PSA . Italy is set to provide guarantees on 80% of the loan through credit export agency SACE under an..