News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Italy vote increases pressure on banks

Banca Monte dei Paschi faces possible nationalisation

Monte dei Paschi headquarters in Siena, Italy
Monte dei Paschi headquarters in Siena, Italy Photo: iStockPhoto

Italian bank stocks tumbled in trading after voters rejected constitutional overhauls, stirring fresh turmoil in the nation’s battered financial sector and, people familiar with the matter say, possibly putting troubled lender Banca Monte dei Paschi di Siena in line to be nationalised.

A decision on how to proceed may take several days but no later than week's end, said one person close to the transaction.

WSJ Logo