The Government of Italy adopted in the early hours of Friday a decree that will pave the way to the rescue of Monte dei Paschi di Siena, after the oldest bank in the world not got investors in support of a vital plan of increase of capital.
The prime minister Paolo Gentiloni told journalists that his cabinet has authorized the creation of a fund of 20,000 million euros (21,000 million dollars) to prop up the banking sector and Italian and that it expected Monte dei Paschi to be the first to ask for help.
“Today marks an important day for Monte dei Paschi, a day that sees him turn a corner and be able to reassure their depositors,” said Gentiloni. (I)
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