World's oldest bank gets government bailout
- Published: 26 Jun 2012 at 19.48
- Online news: World
The Italian government said Tuesday it will provide struggling Banca Monte dei Paschi di Siena, the world's oldest bank, up to two billion euros ($2.49 billion) to cover a capital shortfall.
A man takes money from a cash dispenser in Rome. The Italian government said Tuesday it will provide struggling Banca Monte dei Paschi di Siena, the world's oldest bank, up to two billion euros ($2.49 billion) to cover a capital shortfall.
The government has adopted "urgent measures to raise BMPS's capital funds," it said in a statement, as Italy struggles to stave off debt crisis contagion.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
