Econ ministry starts talks on MPS (2)

(ANSA) - Rome, January 10 - 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