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Italy to hold 70% of Monte dei Paschi bank
By EUobserver
The Italian state will hold "around 70 percent" of the capital of Monte de Paschi bank after an €8.8 billion recapitalisation, the bank's chief Alessandro Falciai told MPs on Wednesday. The bank, Italy's third largest, has been on the verge of collapse because of massive debts, triggering fears of a new eurozone crisis. The European Commission approved a public intervention to save it in December.