Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

Italy's Renzi not worried at all about Monte dei Paschi

Published 21/08/2016, 20:18
© Reuters. A logo of Monte dei Paschi di Siena bank is seen on the ground in downtown Siena
BMPS
-

MARINA DI PIETRASANTA, Italy (Reuters) - Italian Prime Minister Matteo Renzi said on Sunday he was not worried about the situation at Italian lender Banca Monte dei Paschi di Siena (MI:BMPS).

It emerged last week Monte dei Paschi's CEO Fabrizio Viola was under investigation for alleged false accounting and market manipulation in a case involving derivatives trades.

The investigation hits the Tuscan lender as it readies a 5 billion euro (£4.3 billion) stock sale to strengthen its balance sheet after emerging as the weakest bank in Europe in July stress tests.

© Reuters. A logo of Monte dei Paschi di Siena bank is seen on the ground in downtown Siena

"Not at all," Renzi said when asked if he was concerned for the lender on the sidelines of a public interview.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.