Brussels, 28/01/2013 (Agence Europe) - On Sunday 27 January 2013, Bank of Italy gave the go-ahead to the public bailout of Monte dei Paschi di Siena bank (MPS) to the tune of €3.9 billion. MPS is Italy's third largest bank and the oldest bank in the world. It is currently suffering huge financial problems and in the midst of a scandal in Italy. It found itself unable to meet the new capital requirements laid down by the European Banking Authority (EBA).
The bailout was authorised...