ITALIAN GOVERNMENT TAKES CONTROL – 4th July saw the Italian government finally take control of the worlds oldest bank, Monte dei Paschi. The Italian bank had failed to sure up capital after succumbing to bad loans worth an estimated €28.6bn. Now with the help of the state, the government is trying to nurse the bank back to health with a €5.4bn injection and other strict measures to whip Italy’s fourth largest lender back into shape. Measures which include; transferring the bad loans to a special vehicle, deep cuts in personnel and a cap on remuneration of their top executives. Hopefully with the help of both the EU and the Italian government, the bank can put its troublesome past behind them and look to reshape their future. #SpartanInternational