After Monte Paschi, Italy's Other Troubled Banks Are in View
- Italian finance minister, EU agree on plan for Monte Paschi
- Fate of lenders including Veneto banks is still uncertain
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Italy may have no time to rest on its laurels after brokering a deal to keep Banca Monte dei Paschi di Siena SpA in business.
While an “in principle” agreement between Finance Minister Pier Carlo Padoan and European Union Competition Commissioner Margrethe Vestager will help save the world’s oldest bank through paving the way for a precautionary recapitalization, the fate of two regional lenders in one of the country’s wealthiest regions and a third smaller bank has yet to be decided.