December 9, 2016 / 5:58 PM / a year ago

Italian decree to support banking system is ready - government sources

ROME (Reuters) - An emergency decree to support Italian banks, including the troubled Banca Monte dei Paschi di Siena (BMPS.MI), is “essentially” ready to go and can be passed at any time if it is needed, government sources said on Friday.

Italy’s caretaker government at the moment has no plans to meet on Saturday to approve the decree, the sources added.

The European Central Bank rejected a request by Monte dei Paschi for more time to raise capital, a source told Reuters on Friday, a decision that piles pressure on the Rome government to bail out the lender.

Reporting by Steve Scherer, editing by Isla Binnie

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