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Troubled Italian Bank Says Capital Hole Bigger Than Expected

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Troubled Italian bank Monte dei Paschi di Siena will need more rescue money than previously expected, according to calculations by the European Central Bank, potentially complicating the government's rescue efforts. The ECB, the main regulator for banks in the eurozone, has estimated the capital shortfall at 8.8 billion euros ($9.2 billion), according to a statement issued late Monday by Monte dei Paschi. The figure is well above the 5 billion euros that Monte dei Paschi had set as...

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