Italy Saves A Third Bank In Nine Days
Italy Steps In & Saves A Third Bank In Just Over A Week
The Italian government has stepped in to rescue a third bank in nine days.
The government has received approval to put €5.4 billion into Banca Monte dei Paschi di Siena. BMPS revealed on Wednesday an outline of its plan to deliver a net profit of over €1.2bn by 2021. As part of the plan, the bank will cut 5,500 jobs & close 600 branches.
The amount of bailout money that Italian taxpayers are responsible for is now over €25 billion
