Italy commits to smooth exit from Monte dei Paschi bank

Italy's economy minister on Tuesday confirmed that the government is committed to ensuring a smooth exit from the capital of Monte dei Paschi di Siena (MPS) BMPS bank.

Economy Minister Giancarlo Giorgetti told a parliamentary hearing the administration wants to preserve the value and the role of the lender in "supporting territories and businesses".

The Italian Treasury owns a 64% stake of Monte dei Paschi. A merger of the bank with a stronger rival has so far proven difficult.