Monte dei Paschi ex-boss and former chairman sentenced to jail and ordered to pay damages to bank’s savers Monte dei Paschi's ex-CEO and former chair convicted and sentenced to jail Former Monte dei Paschi chairman Alessandro Profumo, former CEO Fabrizio Viola were accused of not correctly booking two derivative transactions between 2012 and 2015.
The ECB has been keeping zombie banks alive A decade after the outbreak of the global financial crisis, banks in the euro area have still not recovered. The Eurozone financial stock index is 65 per cent below the pre-crisis peak, whereas the US S&P financial index has come close to the pre-crisis level. The varying fates of financial institutions is due to the [...]