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ECB should discuss views on Monte Paschi with Italy: PM Gentiloni
December 29, 2016 / 12:19 PM / a year ago

ECB should discuss views on Monte Paschi with Italy: PM Gentiloni

ROME (Reuters) - The European Central Bank should discuss with Italy the reasons behind its assessment that Banca Monte dei Paschi (BMPS.MI) had a greater need for capital than previously thought, Prime Minister Paolo Gentiloni said on Thursday.

A logo of Monte dei Paschi di Siena bank is seen on the ground in Siena, Italy, November 5, 2014. REUTERS/Giampiero Sposito/File Photo - RTX2VB64

“It is important that the motives for this assessment are shared in discussions in the coming months,” Gentiloni told a news conference.

He added he had been surprised on Dec. 25 to receive news that the regulator wanted Monte Paschi to plug a capital shortfall of 8.8 billion euros ($9.2 billion), higher than a previous estimate of 5 billion euros.

($1 = 0.9565 euros)

Reporting by Giselda Vagnoni, writing by Isla Binnie, editing by Gavin Jones

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