No need to nationalise ailing banks - Italy's economy minister
Italy's economy minister said on Monday that nationalising troubled Italian banks was not necessary, as concerns mounted that a plan to rescue lender Banca Monte dei Paschi di Siena (BMPS.MI) might come unstuck.
Answering a question on whether nationalising banks in crisis would be a drama, Pier Carlo Padoan, said: "I don't see the need (for nationalisation)."
Monte dei Paschi has agreed a new turnaround plan based on a 5-billion-euro ($5.6 billion) cash call and the sale of 28 billion of bad loans, but investors' appetite is in doubt as markets fret over political uncertainty and... read more
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