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Italy ready to bail out Monte dei Paschi if needed-Treasury source
December 12, 2016 / 7:39 AM / a year ago

Italy ready to bail out Monte dei Paschi if needed-Treasury source

ROME, Dec 12 (Reuters) - Italy is ready to pump capital into Monte dei Paschi di Siena if the ailing bank fails to raise from investors the money it needs to remain in business, a Treasury source said on Monday.

“There is confidence at the economy ministry that Monte dei Paschi’s cash call can succeed. If the operation failed, the state would carry out a precautionary recapitalisation,” the source said.

“The bank’s existence and its clients’ savings will be preserved under any circumstances,” the source added. (Reporting by Antonella Cinelli, writing by Valentina Za, editing by Francesca Landini)

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