Italian government to request bank bailout funds from parliament
by Jill Treanor and Stephanie Kirchgaessner from Economics | The Guardian on (#25SX6)
Prime minister convenes cabinet meeting as Monte dei Paschi makes last-ditch effort to raise a5bn from private investors
The Italian government is laying the groundwork for a potential a20bn rescue of the country's most troubled banks, including Monte dei Paschi di Siena (MPS).
A government statement issued late on Monday night said that the prime minister, Paolo Gentiloni, had convened a cabinet meeting to request the funds from parliament.
Related: Monte dei Paschi bailout: what you need to know - the Guardian briefing
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