BRUSSELS Jan 25 The European Commission is in
contact with Italian authorities over the derivatives scandal at
Monte dei Paschi bank and is awaiting details on plans for its
restructuring, a spokesman said on Friday.
"All I can say is that we have been in contact with the
Italian authorities with regards to the situation in that bank,"
Antoine Colombani said.
"Recently as you know we adopted a decision whereby
temporary rescue aid for it can be granted for a six month
period. Monte Paschi and the Italian authorities will have to
submit a restructuring plan by the deadline," he said.
The bank, the world's oldest, is enmeshed in a scandal over
losses of nearly $1 billion in a series of complex derivatives