"As regards the current banking situation in Italy, we are in close contact with the Italian authorities," Valdis Dombrovskis told a news conference in Brussels after a meeting of EU finance ministers.

"Authorities are prepared and ready to follow up if and where needed," he added.

On Sunday, Italians rejected constitutional reforms in a referendum, leading to the end of Prime Minister Matteo Renzi's government and so raising new concerns about the countries' ailing banking sector.

(Reporting by Francesco Guarascio; editing by Philip Blenkinsop)