Italy Approves A €20bn Bailout Plan For Its Banks

The Italian parliament has approved a government plan for a possible €20bn (£16.8bn) bailout of the country’s banks. The Italian Treasury will probably have to rescue Italy’s third largest lender, Monte dei Paschi, by the end of next week. The rescue fund will be used to prop up other banks as well. Earlier, Monte dei … Read more

Italy Seeks €20bn For Banks As Monte Dei Paschi Flounders

The Italian government will seek parliamentary approval to borrow up to €20bn (£17bn) to support its fragile banking sector and potentially rescue Monte dei Paschi di Siena. The country’s third-largest bank needs to raise €5bn in fresh capital by the end of the month. If Monte dei Paschi cannot arrange a private sector bailout, a … Read more

Italian Bank Stocks Slump After Defeated Renzi Resigns

The euro swung wildly against the dollar and bank stocks in Italy slumped as the country appeared headed for a period of political and financial turmoil. Prime Minister Matteo Renzi said Monday that he would resign after his program of constitutional reform was rejected by Italians in a referendum, with the ‘No’ campaign winning nearly … Read more

Euro Falls As Italian Leader Quits Over Referendum

The euro fell against the dollar and investors braced for a bumpy ride on Monday as Italy appeared headed for a period of political and financial turmoil. Prime Minister Matteo Renzi announced early Monday that he would resign after his program of constitutional reform was rejected by Italian voters by a clear majority in a … Read more