The Bank Monte dei Paschi di Siena of Italy are faced with an extremely difficult task to convince investors supported the plan to refinance.
After giving the rescue plan over the weekend, Monte dei Paschi bank of Italy di Siena is facing an extremely difficult task to persuade investors to support the refinancing plan and avoid a banking crisis that could spread throughout Europe.
on 29/7, the world's oldest bank aforementioned hastily announced a plan to "rescue" just hours before they are banking results worst of all "test" of Europe's ability to cope with pressure.
Monte dei Paschi's plan is to mobilize the cash amount to 5 billion euros (5.6 billion dollars) by the end of this year.
the investment banks around the world agreed on a preliminary deal Monte dei Paschi to support, on condition that Italy's third-largest bank is successful in planning large-scale securitization to sell bad loans worth price up to 9.2 billion euros.
in the context of the Monte dei Paschi shares lost nearly 80% of its value this year, many fund investors are skeptical about the likelihood of success of this plan.
the experts warns of financial crisis in Italy, the third largest economy the euro area (Eurozone), the risk will spread to all of Europe, which was "stunned" by the recent decision of the British voters to leave the European Union (EU).
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