Italy: the State sells 25% of the capital of Monte dei Paschi di Siena, the oldest bank in the world

2023-11-21 16:58:07

Italy launches its privatization campaign with a highly symbolic announcement: the oldest bank in the world, Monte dei Paschi di Siena, will be sold for 25%. The Italian government is trying to pay off the country’s enormous debt, which reaches 140% of gross domestic product, but these privatizations alone will not solve the problem and get the peninsula out of the doldrums and over-indebtedness.
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