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World's oldest bank's shares hit record low
short by Mansha Mahajan / on Wednesday, 6 July, 2016
The world's oldest surviving bank, Banca Monte dei Paschi di Siena's shares have dropped by nearly 30% to an all-time low. This happened after European Central Bank on Monday warned it to shed €10 billion in bad loans. The drop also dragged down other Italian banks, which are saddled with €360 billion of bad debt, one-third of the Eurozone's total.
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