BRUSSELS, June 1 The European Commission has
reached an initial agreement with Italian authorities over a
recapitalisation of troubled lender Banca Monte dei Paschi di
Siena, the European Union's competition watchdog said
The Commission said it had agreed in principle on the
"precautionary recapitalisation" of the bank in line with EU
rules, provided that certain criteria are met such as making
sure the bank becomes profitable.
"This requires the bank to undergo in-depth restructuring
with the purpose of keeping its viability in the long term," the
Commission said in a statement.
(Reporting by Robert-Jan Bartunek; editing by Philip