Italy bids to borrow €20bln for ailing banks

ReutersNewsPublished: December 20, 2016
Published: December 20, 2016

Italy's government is to seek parliamentary approval to hike national debt by up to 20 billion euros to cover any eventual operation to stabilise the banking system. As David Pollard reports, it comes as the government is widely expected to have to step in to save Monte dei Paschi di Siena, which must raise 5 billion euros in capital by the end of the year or face being wound down.

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