Parliament steps in with emergency scheme as a private effort to raise €5bn for the world’s oldest bank seems likely to fail A €20bn (£17bn) rescue fund for Italy’s banking sector has been approved by the country’s parliament,heralding a bailout of the worlds oldest bank, Monte dei Paschi di Siena (MPS).
The bank said late on Wednesday that it had failed to secure an anchor investor – the Qatar sovereign wealth fund for a €5bn offer of unusual shares. Related: Italy's political class should be very alarmed if MPS needs state bailout Continue reading...
Source: theguardian.com