“It cannot remain in the state”
Banca Monte dei Paschi di Siena: “It cannot remain with the State”. The case of the Italian bank, which ended up at the center of scandals and economic problems, is analyzed by Minister Daniele Franco which expresses itself clearly on the future of the Institute: “The maintenance of state control over Mps without time limits is not a conceivable scenario, Europeans are very clear that prevent the provisions deriving from this regulatory solution ”.
Banca Monte dei Paschi di Siena: “It cannot remain with the State”
The Minister of Economy, Daniele Franco, during a hearing in the Chamber before the Finance committees. The Ministry of Economy “follows developments carefully” and “will promote both during the restructuring process and at the disposal – he explains – of solutions that primarily aim at safeguarding employment levels, secondly to safeguard the protection of the brand, thirdly the link with the territory “. The Monte dei Paschi it is “part of the economic, cultural and social heritage of Siena, Tuscany and the country. The divestiture must guarantee the bank an important future in the Italian and European system “.
The divestment of the state stake in Mps
After the end of the negotiations with Unicredit, “the dialogue with the European Commission began immediately to negotiate a new deadline for the divestment of the state stake in Mps“. The Minister of the Economy, Franco, during the hearing in the Chamber before the Finance, explains that “the objective of the ministry is to achieve an appropriate extension commission functional to allow the realization of the capital and, in the medium term”, of the initiatives to go back Mps “On permanently higher profitability paths”.
Public intervention was 5.4 billion
Franco recalls that “the negotiations for the transfer of Mps at Unicredit it was formally launched on 29 July 2021 ″ and then interrupted at the end of October due to “the impossibility of reconciling the two parts”. Overall, explains the minister, in Mps “Public intervention was 5.4 billion: 3.9 billion for the capital and 1.5 for the refreshment of the investors involved in the load sharing “.