Reuters logo
No need to drag out decision on Monte dei Paschi, ECB's Nowotny says
December 12, 2016 / 10:23 AM / a year ago

No need to drag out decision on Monte dei Paschi, ECB's Nowotny says

VIENNA, Dec 12 (Reuters) - There is no need to drag out a decision on how to rescue Italian bank Monte dei Paschi di Siena , European Central Bank policymaker Ewald Nowotny said on Monday, confirming that the ECB refused to give the bank more time to recapitalise.

“There is a certain general feeling that it would not be good to delay things for too long,” Nowotny told a news conference.

If the bank failed to arrange a capital increase in time, one would have to look at the legal options and proceed with caution because of Monte dei Paschi’s size, he added.

Italy prefers a market solution to save the bank, but should it fail a state rescue would require a forced conversion of the bank’s bonds into shares, Treasury sources in Rome said on Monday. (Reporting by Francois Murphy; editing by John Stonestreet)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below