Italy reaches “burden sharing” deal on Monte dei Paschi
Piazza Salambeni in Siena, home of Banca Monti dei Paschi di Siena (Credit: iStock.com/andrearoad)
The Italian government and European Commission have reached an agreement to allow the state recapitalisation of the world’s oldest bank, Monte dei Paschi di Siena, without breaching the strict bail-in requirements of the Bank Recovery and Resolution Directive.
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