Monte Paschi rescue fund rises-sources

ReutersNewsPublished: December 28, 20164 views
Published: December 28, 2016

The Italian government is likely to put in around 6.5 billion euros ($6.8 billion) to rescue the country's third biggest lender Monte dei Paschi di Siena, more than initially expected. As Hayley Platt reports the higher cost of the state rescue is due to the fact that the European Central Bank has revised the bank's capital shortfall to 8.8 billion euros from a previous estimate of 5 billion euros.

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