Economy Minister Pier Carlo
Padoan on Tuesday began talks with the president and CEO of
troubled Tuscan lender Monte dei Paschi di Siena (MPS),
Alessandro Falciai and Marco Morelli, aimed at drafting a
business plan including a precautional recapitalisation to
rescue the ailing bank, which is weighed down by bad loans. The
government is set to put billions of euros into MPS to help it
turn the corner after coming last in European stress tests
because of its non-performing loans (NPLs). The precautionary
recapitalisation, which aims to protect MPS small savers, is to
be negotiated with the European Commission over the coming
months.
photo: Morelli arriving for the talks at the economy ministry
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