The European Commission has communicated to the Ministry of Economy and Finance (Mef) that it has approved the revision of the “commitments” that had been undertaken by Italy in order to allow, pursuant to European and Italian legislation, the precautionary recapitalization of the Bank Monte dei Paschi di Siena (Mps) in 2017. This is learned in a note from the Mef in which it is explained that these commitments have been revised on the basis of a proposal submitted to the European institution by the Italian Treasury in July, “as a result of a constructive dialogue conducted between the respective offices in the previous months, and are consistent with the objectives of the industrial plan recently approved by Mps ”.
The contents of the decision will be made public by the European Commission in the coming weeks, the note reads, as is the practice in decisions on state aid.