Monte Paschi Bailout Won’t Spur Recovery as Loan Losses Surge

Monte Paschi Bailout Won’t Spur Recovery as Loan Losses Surge

Alessia Pierdomenico/Bloomberg

A pedestrian uses his mobile phone as he crosses Piazza del Campo in Siena, Italy. An increasing number of Italian firms and families are struggling to repay debts as austerity measures put in place by the caretaker government of Mario Monti curb economic activity.