Italy approves €20bn plan to prop up its troubled banks

Italy approves €20bn plan to prop up its troubled banks

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Italian parliament approved the €20bn plan to help the country's weaker banks. The plan started with a bailout for the 3rd largest bank, Monte dei Paschi di Siena, which failed to raise €5bn from private investors. Founded in 1472, Monte dei Paschi is likely the oldest surviving bank in the world.

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