The end game may have finally arrived for Banca Monte dei Paschi di Siena SpA.
For seven years, Italy’s third-biggest bank has repeatedly skidded to the edge of collapse, only to be bailed out by investors or the government. Now Chief Executive Officer Marco Morelli has until year-end to raise 5 billion euros ($5.3 billion) of capital -- seven times its current market value -- and offload almost 28 billion euros in soured loans to save the world’s oldest lender.
