investmentwatchblog.com / BY· NOVEMBER 25, 2016
TROUBLED Italian lender Monte dei Paschi di Siena (MPS) was engulfed in a fresh crisis on Friday amid concerns a rescue plan for the troubled bank is set to fail.
Investors dumped stock in Europe’s weakest bank, sending its share price hurtling down by more than seven per cent.
A £4.2 BILLION pound call for cash aimed at keeping Italy’s older lender afloat has been approved by shareholders.
But investors are worried the bank could struggle to persuade enough people to plough more money into the ailing bank.
MPS is at the heart of Italy’s banking crisis, which centres around £270bn of so-called non-performing loans – a third of the eurozone’s total.