Monte Paschi’s Restructuring: What You Need To KnowRupert Hargreaves
It looks as if, for now at least, Europe’s next banking crisis has been averted. Over the weekend a rescue plan emerged for Italy’s Banca Monte dei Paschi di Siena, the struggling Italian lender which was the worst performing of all Europe’s banks in the recent EBA EU-wide stress tests.
The rescue plan has three steps the first two of which involve increasing the coverage for bad debt and transferring bad debt into a . . .
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