Italy to nationalize bank, shed $32.5B in bad loans

ArticleBanking crisisAugust 11, 2017 - 4:43:23 AM

The Italian government is taking control of troubled bank Monte dei Paschi di Siena and will try to relaunch it in a plan that includes disposing of a massive 28.6 billion euros ($32.5 billion) in bad loans.

In a bid to end years of struggles, the Italian government is taking control of bank Monte dei Paschi under a relaunch plan agreed by European officials that includes the disposal of a massive 28.6 billion euros ($32.5 billion) in bad loans.

Source : CourtHouseNews.com

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