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Latest News Wires Monte Paschi to pay up or be nationalized, EU says

Monte Paschi, Italy's third largest bank, must come up with an extra $3.3 billion or face a government takeover, officials say.

By Silvia AloisiReuters, James MackenzieReuters / September 9, 2013

Stefano Rellandini/Reuters/File

Italy's Monte dei Paschi di Siena may have to be nationalised unless it can raise more than twice as much capital as originally planned, to meet new European Union requirements.