today is an important day for Monte dei Paschi, a day when it turns and it can reassure its depositors, ” says the Italian prime minister, Paolo Gentiloni, who since he took office last week, has made the rescue of the bank, its first priority.
the Decision comes after the Monte dei Paschi di Siena, which is the world’s oldest active bank, said that they failed to reach five billion in new capital from private investors to stay afloat. This was the requirement for it not to be drawn into a decommissioning process led by the European central bank (ECB).
Shortly after the prime minister’s statement announced, Monte dei Paschi di Siena that they will request a capital injection from the state.
the Italian state is already the largest shareholder in the krisbanken, with four per cent of the shares.
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