EBA was right to ask for Monte Paschi recapitalisation - Enria

MILAN Thu Jan 31, 2013 5:45am EST

Related Topics

MILAN Jan 31 (Reuters) - The European Banking Authority (EBA) was right to ask for a recapitalisation at Italy's Monte dei Paschi di Siena, the body's chief told reporters.

"Now that losses at MPS have materialised I believe we can acknowledge that EBA was right to ask for a recapitalisation," EBA's chairman Andrea Enria said on the sidelines of a conference on Thursday.

The Siena-based bank is in a crisis over an opaque series of derivatives and structured finance deals that have produced losses of 720 million euros ($970 million) and raised questions about possible corruption by bank officials. (Reporting by Francesca Landini, editing by Stephen Jewkes)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.