Monte Paschi expects state aid very soon
BERGAMO, Italy (Reuters) – Italy’s troubled lender Monte dei Paschi expects to receive 3. 9 billion euros ($5. 2 billion) in state loans in a “very short time”, Chairman Alessandro Profumo said on Saturday. The funds, being provided through special bonds, are designed to shore up Italy’s third largest bank, which has been at the centre of a financial and political storm over losses resulting from derivatives and structured finance trades. “The bank will sign the ‘Monti bond’ in a very short time,” said Profumo, talking with journalists on the sidelines of a business conference. . . .
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