ROME: Italy Finance Minister Pier Carlo Padoan (pic) criticised the European Central Bank (ECB) for not being clear enough in its request for Banca Monte dei Paschi di Siena SpA to boost its capital by almost twice the amount the lender failed to raise on the market.
“It would have been useful to receive additional information from the ECB supervisory board on the criteria used for such a valuation, since it has consequences for the other banks,” Padoan said in an interview with financial daily Il Sole 24 Ore published yesterday.