Relevant:
- Mamma Mia: Italian Banks on Verge of Collapsing Entire Eurozone Financial System
- Monte Paschi looks to leave 'emergency room' and return to profit, with next bailout step
- Monte Paschi Capital Wiped Out in European Bank Stress Test; Will Raise More Capital
- Woes at Italy's Biggest Bank Reverberate in Europe
- Italy Bank Rescue Won't Fill $54 Billion Hole on Their Books
2016-08-02 — mishtalk.com
Forget the adverse scenario bit, Monte dei Paschi, Italy's third largest bank and oldest bank in the world is insolvent in any realistic scenario... Supposedly, a €1.6 billion investment into a mezzanine tranche of Monte dei Paschi from the €5 billion Atlante (Atlas) rescue fund is all it takes to cure some €50 billion in nonperforming loans at the bank.
In total, the Italian banking system has €360 billion in nonperforming loans and Atlas is supposed to take care of the entire mess...
... [and] I am sure glad "Commerzbank Looks to Build on Gains of Recent Years". Are they talking about gains in the race to zero?
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