Pier Carlo Padoan

Italy Approves A €20bn Bailout Plan For Its Banks

by

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

by

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