The amendment by the speakers to the development law decree which modified the Monti bond procedures in favor of MPS was rejected by the Senate Budget Commission. The proposal envisaged the possibility for the Sienese bank to pay in monetary form up to the amount of the operating result or by issuing other Monti bonds.
The possibility for the Ministry of the Economy to subscribe the coupons of 31 billion was thus postponed to 2013 January 3,9 and its entry into the share capital was postponed. For the Commission, on the basis of article 81 of the Constitution and in the absence of a technical report, the opinion on coverage is negative. However, a solution will have to be found as soon as possible, because MPS will have to pay the coupon at 8,5% of the 1,9 billion of the old Tremonti bonds by the end of the year.
