"There is a maneuver on some banks, full stop" but "in my opinion the system is much more solid than what some investors legitimately fear".
This was stated by Prime Minister Matteo Renzi during an interview with Il Sole 24 Ore. According to the Premier, the vicissitudes that have occurred over the last few days will serve to create new scenarios, facilitating mergers, aggregations and purchases.
The Premier reassured Italian savers: "Having one of the highest private savings compared to GDP is Italy's great strength, we will never waste it".
Renzi then spoke of the panic selling that hit the MPS stock despite the ban on short selling decided by Consob last Monday. Monte dei Paschi's shares have lost 58,88% of their value since the beginning of the week and today, after days of intense red, they are attempting a rebound (+14,12%). But the Prime Minister sees the glass as half full "Monte dei Paschi today is at incredible prices". The Premier remains cautious about the future of the Sienese bank, but hopes it will remain Italian. “I think the best solution will be the one that the market decides. I wish it were Italian, but whoever comes – concludes Renzi – will get a great deal.
