Italy court rejects attempt to block Monte Paschi bailout
ROME (Reuters) - An Italian court on Friday rejected a consumer watchdog attempt to block a government plan to lend 3.9 billion euros ($5.16 billion)to troubled lender Banca Monte dei Paschi di Siena (BMPS.MI).
In a judicial ruling, the Rome region court rejected the bid by consumer rights' association Codacons to have the loans blocked on grounds the bailout was harmful to Italy.
Codacons, which wants the world's oldest bank to be nationalized, may appeal the decision to a higher tribunal.
Tuscan lender Monte Paschi was forced to request state aid last year after failing to meet tough capital requirements set by the European Banking Authority. ($1 = 0.7563 euros)
(Reporting by Virginia Alimenti, Writing by Naomi O'Leary)
- Air strike kills 15 civilians in Yemen by mistake: officials
- North Korea executes leader's powerful uncle in rare public purge |
- Insight: In Yemen, al Qaeda gains sympathy amid U.S. drone strikes
- Twitter backtracks on block feature after users revolt
- Iran angry over U.S. sanctions, nuclear talks interrupted
Thousands line up to say goodbye to Nelson Mandela, whose body is lying in state in Pretoria. Slideshow