State would inject billions of euros into struggling bank whether capital-raising plan does not work,says finance ministry officialItaly is prepared to launch a multibillion-euro rescue of Monte dei Paschi di Siena (MPS) by the discontinuance of this week whether the bank fails in its final-ditch effort to secure €5bn (£4.2bn) from private investors, according to a finance ministry official.
The official told the Guardian the ministry was “fully confident” that the worlds oldest bank would be able to carry through its plans to bolster its financial strength without recourse to the taxpayer. Related: Monte dei Paschi di Siena tries to keep €5bn rescue plan alive Continue reading...
Source: theguardian.com