The world’s oldest bank is about to get saved by the government – but there’s a catch

The world's oldest bank is about to get saved by the government - but there's a catch

The world’s oldest bank, Monte dei Paschi di Siena, is poised for a multi-billion state bailout after it admitted on Wednesday that a private rescue plan was unlikely to succeed. The Italian parliament looks set to step in to save Monte dei Paschi di Siena, recently judged the weakest of the European Union's major banks, over the next few days using a new €20bn (£17bn) rescue fund designed to prop up Italy's struggling lenders.

View Full Post

More great content like this @ Business & Economy Front Page or you can Request Invite

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s