Monte Paschi Crashes To All Time Low, Rebounds After Government Agrees To Fund Bank Bailouts

Monte Paschi Crashes To All Time Low, Rebounds After Government Agrees To Fund Bank Bailouts:

In early European trading, shares of Italy’s Monte Paschi halted after crashing 17%, dropping to fresh all time lows, after the bank warned its liquidity could run out far sooner than expected. But then, moments ago, its shares soared, recovering all losses when Italy’s upper house of parliament approved a government request to borrow up to €20 billion to underwrite the country’s troubled banks.

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