Reuters logo
EBA was right to ask for Monte Paschi recapitalisation - Enria
January 31, 2013 / 10:46 AM / 5 years ago

EBA was right to ask for Monte Paschi recapitalisation - Enria

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)

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