Dei Paschi approves rescue plan

Dei Paschi approves rescue plan

World July 29, 2016 19:42

- The board of the Italian bank Banca Monte dei Paschi di Siena has approved a capital injection by investors. That made a director of the bank known Friday night, without going into details of the rescue plan for the ailing bank.

The plan is the world's oldest bank provided additional capital according to media reports of 5 billion euros. This is intended to prevent the bank stifled by the many bad loans on its balance sheet.

The bank is already bad for years and saw another three-quarters of its market value last year vaporised by the worries about his future. Later on Friday evidenced by the results of the latest European stress test how dei Paschi, and fifty other European banks to withstand a new economic crisis.
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