Monte dei Paschi capital wiped out in EU banking stress test ...Middle East

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Monte dei Paschi capital wiped out in EU banking stress test
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All of Monte dei Paschi's capital was wiped out in a European Union stress test of banks on Friday as the Italian lender headed for government-sponsored merger talks with domestic peer UniCredit, whose own score fell short of the sector's aggregate performance. The exercise by the European Banking Authority showed that EU banks took a 265 billion euro ($314.7 billion) hit in a test of their resilience to economic shocks, which still left them with two-thirds of their buffers intact.

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