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World's Newest Banking Crisis Revolves Around World's Oldest Bank

July 15,2016 00:25

Analysts say there is virtually no chance private investors will finance a recapitalization of Monte dei Paschi, the world's oldest bank, founded in 1472. Instead, Italian officials have been pushing hard to use some sort of government support. The rub ...and more »



MILAN—A high-stakes conflict is brewing between Italy and the European Union over the rules for bailing out banks—and the country’s third-largest lender is at the center of it. The dispute over Banca Monte dei Paschi di Siena SpA could come to a head when the results of European stress tests are released later this month. The bank has €50 billion ($55.5 billion) in bad loans on its books and is widely expected to emerge as the...

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