The State will rise more than 50 percent in Monte dei Paschi di Siena – The NINETEENTH Century

The hearing of the minister Padoan on Monte dei Paschi, ansa

Yesterday, however, was put in place the regulatory framework, with the vote of the house and Senate (by a large majority, opposed only Five-star, League, and the Italian Left) to be able to "stretch" the debt ceiling. Throughout the day yesterday, there have been the contacts between Siena, Rome, and Milan in order to define the mode of intervention. But on Tuesday, the outcome was obvious. "There is a strong political will for the solution public that has won the resistance of those who would have wanted to pursue the private option," explains one of the sources. Solution for the public-probably will see the ministry of the Economy to take a share of 50% or higher of the Monte dei Paschi.

it is Not yet clear how much of the 20 billion made available by the government will be needed to secure the Monte dei Paschi. The minister Pier Carlo Padoan said in Parliament that at this moment it is not possible to provide specific assessments on individual banks”, but he assured the utmost attention “to the protection of savers retail, taking account of the margins granted by the eu rules on State aid and of the banking directive.

The impact on savers, he said, will be “minimized or rendered non-existent”. Meanwhile, yesterday went to place another important piece. The sale of 28 billion to the sufferings of the institute siena you will anyway, despite the intervention of the State.

To clear this up was a note from the bottom of the Atlas, issued in the evening, after that throughout the day you were chased rumors and doubts on the slippage of the cleaning operation, one of the pickets placed by the european central Bank in Siena to achieve by the end of the year. In the morning, in fact, a supplement to the prospectus, had confirmed that the intervention of the Atlas – which is expected to take a tranche of the securitisation of nonperforming loans, with a commitment of about 1.5 billion – would have been the case only in the context of a "market", that is, without a massive intervention of public capital.

But that of yesterday was another day to forget for the title, overwhelmed by the rush of the news.

Always from the prospectus, it emerged that the liquidity position of the bank is sufficient for just four months, compared to eleven months of the last communication last week. The alarm is raised by agencies and publications throughout the World, together with the rumors on the input State, and at the end of the session the actions of the Mps have lost more than 12%, touching a new historical low. From the beginning, waiting for the definition of the various steps (also authorization, between the Ecb and the european Commission) of the state intervention, the staff at the counter will have the task of reassuring clients about the future of the bank, helped by the government guarantee for cash that I should put the institute in the shelter of the further leakage of deposits.

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