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Same horse, new jockey

17 October 2016 By Neil Unmack

Corrado Passera has made a proposal to rescue Monte dei Paschi di Siena, facing off a 5-billion-euro JPMorgan plan. The ex-Intesa chief’s plan may avoid a politically-thorny debt swap, but raises fewer funds. With MPS, the politically expedient is the enemy of the good.

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