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Monte dei Paschi chairman says remains optimistic over bailout request
May 17, 2017 / 11:46 AM / 6 months ago

Monte dei Paschi chairman says remains optimistic over bailout request

ROME (Reuters) - Monte dei Paschi’s Chairman Alessandro Falciai said on Wednesday he remained optimistic over the outcome of the Italian bank’s request for a state recapitalisation needed to fill an 8.8 billion euro capital shortfall.

Monte Dei Paschi bank logo is seen in downtown Rome, Italy, January 21, 2016. REUTERS/Max Rossi/Files

The European Central Bank’s Chief Supervisor Daniele Nouy said on Monday a failure to review the Tuscan bank’s assets before stress tests last year was opening up “additional discussions” about the bank’s incurred losses, which can be covered only with private money.

Monte dei Paschi’s state aid request needs to be authorised by the European Commission after the ECB has declared the bank viable and quantified its capital needs.

Asked about Nouy’s comments, Falciai told reporters on the sidelines of an event: “I cannot help but being greatly optimistic.”

Reporting by Stefano Bernabei, writing by Valentina Za

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