Siena

ECB: Monte dei Paschi di Siena needs 8,8 bn Euros!

Last Friday the Italian government announced the nationalization of the third biggest bank of the country, Monte dei Paschi di Siena. The bank had failed to find 5,5 bn Euros from private investors it needed to stay afloat.

 

The European Central Bank, however, is of the opinion that the bank needs no less than 8,8 bn Euros.