The European Central Bank should have explained more clearly why it nearly doubled its estimated capital shortfall for the ailing Monte dei Paschi di Siena bank, which is being bailed out by the state, Italy’s economy minister said.
Italian lender says it now expected its 10.6 billion euro liquidity position to turn negative after four months.
Our live blog is tracking reaction as Italian bank BMPS approaches deadlines to complete both a cash call and debt for equity swap.
Government to seek parliamentary approval to borrow to underwrite its wobbly banking sector, starting with Monte dei Paschi di Siena
Euro weakness against the dollar resumed after last week’s ECB meeting, and accelerated after Wednesday’s Fed decision on rates.
Draghi discussed the prospect of a new U.S. stimulus program under President-elect Donald Trump during talks with EU leaders on Thursday.
Our live blog is tracking market reactions following reports Italy will inject 15 billion euros into its banking sector.
The 62-year-old prime-minister designate is a key member of outgoing premier Matteo Renzi’s Democratic Party.
Senior bankers are racing this weekend to piece together a highly complex, three-part rescue of the Italian Banca Monte dei Paschi de Siena, despite widespread expectations that a “No” vote in today’s constitutional referendum could scupper the deal, sparking a fresh eurozone banking crisis.
For how tumultuous of a year it’s been for business and politics, it’s fitting 2016 should end with U.S. banks as an oasis of stability.