banking crisis: Therefore, the Italian banks are under pressure
MilanThe Italian crisis Bank Monte dei Paschi controls on a rescue by the state. The money house from Tuscany, announced on Wednesday evening, to have no anchor investor is found. The third largest Bank in the country, under a mountain of bad loans groans, had hoped to be able to the sovereign wealth Fund of Qatar, to convince, to subscribe for new shares. This alone should make one billion euros. The Option is now on the table, said a familiar with the Situation Person to Reuters. “Without an anchor investor, there is no demand from the other side.”
compacted At the same time, as the Bank is saved. At the session of the Italian Senate and chamber of deputies, the parliamentarians gave the green light on Wednesday that the government is allowed to make up to 20 billion euros in additional debts to be able to the ailing banking sector in case of emergency support.
The more than 550-year history of Monte Paschi
The rescue of the crisis-Bank by the Italian government will extend, over several months. The state aid of successes in several steps and required two to three months time, reported the daily newspaper “Il Sole 24 Ore” in its Thursday edition. Also, under the rescue programme, the capital increase will be approximately five billion euros.
The share of the Italian crisis Bank Monte dei Paschi fluctuates on Thursday extremely. The papers fell to the commencement of trading of 6.8 percent to a new record low of the 14.71 euros, a little later you traded in Plus. Again and again, the trade was interrupted because of the automatic volatility suspensions.
five months ago as head at Italy’s largest Bank Unicredit, launched Jean-Pierre Mustier is shown in the Handelsblatt Interview optimistic: “I am extremely confident that there will be a solution for Italy’s banks,” said the Frenchman, wants to collect in the first quarter, a record amount of EUR 13 billion of investors for a capital increase.
Unicredit-chief Jean-Pierre Mustier: “I would like to sell the Hypo-Vereinsbank never”
On Wednesday morning, it was clear that the future of Monte dei Paschis Spitz is on the button. The oldest Bank in the world had announced that the financial situation was much worse than previously known. The liquidity-rich for only four months. So far, the group’s leadership was assumed that the money will be enough for eleven months. Currently, the liquidity cushion is estimated at about 10.6 billion euros.
On Wednesday and Thursday had been exposed to the Monte-shares by temporarily trading. In November, the money the house had been placed from the Tuscan Siena in its shares, in order to support the course. The Parliament’s decision from Rome the title were able to reduce on Wednesday, the first of the losses, they shot at times, even into the Plus. But then the papers gave way to clear – a real roller-coaster ride, which continued on Thursday.