Press Release: State aid: Commission temporarily approves rescue aid for Italian bank Monte dei Paschi

The European Commission has temporarily approved, under EU State aid rules, a €3.9 billion recapitalisation of Italy's third largest bank Monte dei Paschi di Siena S.p.A (MPS) for reasons of financial stability. The measure will enable the bank to comply with recommendations from the European Banking Authority. The approval is conditional upon the submission of a restructuring plan within six months.

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