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2021-09-27

Monte dei Paschi di Siena, the world’s oldest bank, is nearing its end

MPS was nationalised in 2017 after it was revealed the bank hid hundreds of millions of euros in losses between 2008 and 2012 using complex derivatives contracts. Thirteen former bankers from MPS and other lenders have been jailed over the case, which shook Italy’s establishment and fomented the rise of populism in the country.

FT 27 September 2021

https://www.ft.com/content/a020dcba-d135-4ef9-8e67-ba44bc1921be


Mario Draghi, Italy’s technocrat prime minister and the former president of the European Central Bank, was Italy’s banking regulator who greenlighted the Antonveneta deal.

Bloomberg 22 September 2021

https://englundmacro.blogspot.com/2021/09/monte-paschi-nearly-600-year-old-bank.html 

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