Italy central bank approves Monte Paschi bailout request
ROME/MILAN (Reuters) – Italy’s central bank on Saturday gave its approval to a request by scandal hit bank Monte dei Paschi di Siena for 3. 9 billion euros ($5. 3 billion) of state loans, the latest step in the battle to revive the ailing bank. The Bank of Italy’s backing was the final stage required to free up the financial help for Italy’s third biggest lender, which this week revealed loss-making derivatives trades that could cost it about 720 million euros. . . .
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