Why Italy Is Still Struggling to Rescue Monte Paschi
Italy’s Banca Monte dei Paschi di Siena SpA is the world’s oldest bank. It’s also one of the most problematic after receiving more than 9 billion euros ($10.6 billion) in bailouts since the global financial crisis from the Italian government, which now has until the end of 2021 to exit its 64% stake. A possible sale to UniCredit SpA is raising more questions about the ballooning taxpayer cost of keeping the bank alive.