A deal with the European Commission
on the precautionary recapitalisation of troubled Tuscan lender
Monte dei Pachi di Siena (MPS) is "a question of days", economy
ministry technical chief Fabrizio Pagani said Tuesday, adding
that the question of the securitization of non-performing loans
was "being closed". MPS, Italy's third-largest and the world's
oldest bank, is being rescued by the State in a
billions-of-euros move that must be approved by the EC. The bank
ran into trouble after coming last in an European Central Bank
stress test because of its high ratio of NPLs.
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