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Corrado Passera, the veteran Italian businessman and former industry minister, has teamed up with Swiss bank UBS to present a last-ditch alternative rescue proposal to the board of struggling lender Monte dei Paschi di Siena on Friday. The proposal will be presented to MPS only hours before the world’s oldest bank is expected to be ranked as one of the weakest banks in Europe when the results of the latest European stress tests are published on Friday evening. – Financial Times.
