Italy May Be Forced to Bailout Its Third Biggest Bank

In Italy, it’s bailout time.

Italy’s government is getting closure to pumping billions into the country’s third-largest bank, Monte dei Paschi di Siena, in order to save it. The bank earlier failed to persuade enough private investors to take part in a major capital-raising.

Monte dei Paschi (MPS), which the European Central Bank ordered to raise billions of euros in fresh capital by year-end or face being wound up, is a key moment in the bad loan crisis in the Italian banking...

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