2) Monte Paschi holds shareholder meeting on Dec.27 to vote on cap hike. Bank and its top investor have clashed on timing of rights issue
1) Italy corporate issues still boiling at Christmas: Monte Paschi, Alitalia and (partly) Telecom Italia. #Italy
MILAN/BOLOGNA (Reuters) – For years, former top Swiss banker Raoul Weil had U.S. charges for allegedly helping rich Americans avoid tax hanging over him.
Now that he is due to appear in a Florida court on Monday, his lawyer says he is looking forward to confronting them.
#Berlusconi to face expulsion vote in Italian Senate later today. #Italy #politics
MILAN, Nov 19 (Reuters) – Italian banks are preparing to
sell nearly a quarter of their problem loans by 2017 thanks to a
balance sheet clean-up spearheaded by the Bank of Italy that is
tempting specialist investors back into the market.
Bad debts held by Italian banks have doubled since 2010 to
145 billion euros ($196 billion), a product of the country’s
longest recession in 60 years. But this has also exacerbated the
country’s economic plight as banks have had to set aside more
cash for bad loans rather than lend to companies and consumers.