Italy criticizes ECB over Monte Paschi capital decision

The European Central Bank should have explained more clearly why it nearly doubled its estimated capital shortfall for the ailing Monte dei Paschi di Siena bank, which is being bailed out by the state, Italy’s economy minister said. In unusually critical comments, Pier Carlo Padoan said in a newspaper interview the ECB’s new capital target was the result of a “very rigid stance”. Source Reuters

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