Tuscan Lender: Recapitalization Scheme and Cabinet Meeting

tuscan lender: Monte dei Paschi di Siena MPS announced Thursday it had not been able to raise enough money on markets for its recapitalization scheme, according to Deutsche Welle. The Tuscan lender, the third-largest in the country, said in a statement that its four-day attempt to raise 5 billion euros 5.2 billion from private investors did not end successfully. Prime Minister Paolo Gentiloni said after a cabinet meeting it was aimed at ensuring the widest possible protection of citizens' savings and to make the Italian banking sector stronger and more solid. The government had indicated in recent days that it would be willing to take measures to support the bank. Monte dei Paschi was founded in 1472 and has seen many ups and downs in its history. Watch video 01 59Share Italy's banking dilemma Send Facebook Twitter Google Whatsapp if typeof WURFL 'object' if WURFL.is mobile && ! -1 WURFL.is mobile && ! -1 ; Tumblr linkedin stumble Digg reddit Newsvine Permalink banking dilemma All eyes on Rome On Tuesday, the government in Rome got permission from parliament to create a special 20-billion-euro rescue fund for the country's ailing banks, including MSP. The money will be raised through fresh borrowing. (news.financializer.com). As reported in the news.