Italy’s banking stand-off weighs on markets

Political turmoil as BMPS tries to negotiate finance package
Thursday 01 Dec 2016 Author: William Cain
B anca Monte Paschi di Siena (BMPS:BIT) is the world’s oldest surviving bank though that record looks increasingly in jeopardy. Struggling with non-performing loans, BMPS has laid out new financing plans valued at €5bn (£4.2bn) which may be put under threat by uncertainty around a 4 December referendum. Prime Minister Matteo Renzi is campaigning for changes to the constitution which would give the country’s executive government branch more power...

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