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Italy audit court rules Monte Paschi state aid legitimate
February 21, 2013 / 5:21 PM / 5 years ago

Italy audit court rules Monte Paschi state aid legitimate

ROME, Feb 21 (Reuters) - Italy’s top audit court has ruled that the state’s plan to loan 3.9 billion euros ($5.16 billion) to troubled lender Banca Monte dei Paschi di Siena is legitimate, the court said in a statement.

The Tuscan lender, the world’s oldest, 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 Roberto Landucci)

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