Martedì, 23 Ottobre 2018

ECB advises Italy to help Monte Paschi by taking up shares


Rome, December 20 – The European Central Bank has
suggested Italy should take ownership of new shares in Banca
Monte dei Paschi di Siena, the world’s oldest bank, as opposed
to issuing more debt to help the troubled lender.
The Italian government earlier this month approved a 3.9
billion euro salvage package for the Siena-based bank after
Monte dei Paschi had been forced to remedy the weakness in its
capital base.
The issuance of additional debt could create further
difficulty to the lender as it would increase its repayment
obligations, the ECB said, adding that it was preferable the
bank issue new stock to raise capital instead.

Photo: European Central Bank chief Mario Draghi

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