Troubled lenders including Monte dei Paschi di Siena (MPS) and smaller competitors are in line to receive €15billion (£12.6bn) to help avoid a collapse, which could have devastating effect on the Italian economy.
Rome is stepping in as time runs out for MPS to find a solution to its €40bn (£33bn) book of bad loans.
Italy’s oldest bank only has until December 31 to find more cash, or face forced closure by the European Central Bank (ECB).
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