VIENNA (AP) — A 57-nation organization with a history of mediation but no enforcing powers has been tasked with helping to translate diplomatic progress on easing Ukrainian tensions into reality on the ground.
Italian bank Monte dei Paschi di Siena gave the go-ahead on Friday to a 5.0 billion euro equity raising that will boost its capital and allow it to repay a government bailout this year. The Tuscan bank has to pay back by the end of the year some 4.0 billion euros ($5.5 billion) in credit it received from the Italian government last year to stave off bankruptcy. Chief executive Fabrizio Viola told Italian news channel SkyTG24 that the share sale would be carried out "starting in mid-June until mid-July". Instead, Monte dei Paschi said the share sale would put it in a better position to seize "opportunities linked to a possible recovery of macro-economic conditions".