Domenica, 21 Ottobre 2018

EC 'temporary' OK to MPS rescue


Brussels, December 17 - The European Commission on
Monday gave a "temporary" green light to a 3.9-billion-euro
recapitalisation of troubled Italian bank Monte dei Paschi di
Siena (MPS).
MPS, the world's oldest bank and the third biggest in Italy,
incurred heavy losses this year and its bonds were downgraded to
junk status by Standard & Poor's earlier this month.
The government led by Premier Mario Monti has been helping
it get back on its feet after a two-billion-euro first-half loss
with so-called 'Monti bonds'.

photo: MPS Chairman Alessandro Profumo

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