The Bank of Italy said Wednesday
that the crisis of Monte dei Paschi di Siena, which was recently
rescued with a State bailout, was determined to a significantly
degree by the criminal conduct of its former management.
"The effects of the general situation outside the bank, deep
on their own, were amplified by the serious, fraudulent
behaviour by previous management figures from 2008 onwards,"
Carmelo Babagallo, the head of oversight for the Bank of Italy,
told the parliamentary commission on the nation's banking
crisis.
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