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Italy sees Monte dei Paschi deal with EU in "a matter of days"
May 23, 2017 / 1:07 PM / 7 months ago

Italy sees Monte dei Paschi deal with EU in "a matter of days"

MILAN, May 23 (Reuters) - Monte dei Paschi di Siena is close to reaching an agreement with the European Commission that will pave the way for a state bailout of Italy’s fourth biggest bank, a senior Italian treasury official said. Striking an accord “is a matter of days,” the official, Fabrizio Pagani, told reporters on the sidelines of a conference.

Pagani said that a deal to selle the bank’s non-performing loans repackaged as securities -- part of a restructuring plan for the lender that must be approved by European regulators to unlock state aid -- was also being finalised.

Reporting by Gianluca Semeraro, writing by Silvia Aloisi, editing by Valentina Za

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