a, hope remains that a "white knight" invest

by Eric J. Lyman


ROME Asics Onitsuka Tiger Mexico 66 Argent Soldes , Nov. 14 (Xinhua) -- Weeks after the European Central Bank (ECB)'s stress test identified Tuscany's Banca Monte dei Paschi di Siena as Europe's least healthy major bank, the institution's future remains clouded in doubt as the Italian media is overflowing speculation about what might happen next.


What most expert observers agree on is that the world's oldest lender -- the bank was founded in 1472 -- no longer has the assets it needs to survive on its own.


"There is zero chance Monte dei Paschi can survive without outside help," Luigi Guiso, an economist with the Einaudi Institute for Economics and Finance Homme Asics Onitsuka Tiger Mexico 66 Noir Soldes , told Xinhua. "They have nothing left to build a recovery on."


The 2.1-billion-euros (2.63 billion U.S. dollars) shortfall identified by the ECB's stress test was by far the largest among the 130 banks reviewed. Of the 25 banks to have failed the examinations based on their accounts at the end of last year, nine were in Italy.


The news was a blow for Monte dei Paschi, which saw its shares plummet 20 percent on Oct. 27, the day the results were announced. The Italian Stock Exchange's temporary trading limits -- put in place the following day -- were this week extended until at least January.


The shares now trade at 67 euro cents Asics Onitsuka Tiger Mexico 66 Or Soldes , down from 25 euros as recently as early June -- that is a drop of 98 percent in euro terms in little more than five months -- and 522 euros a share seven years ago.


Things started going wrong for Monte dei Paschi after the over-priced acquisition of smaller rival Banca Antonveneta in 2007, around the same time the bank's share hit their 522-euros all-time high. Some questionable investments after that dug a deeper hole.


Staying afloat only with government aid and hemorrhaging clients, Monte dei Paschi lost 1.5 billion euros in the first nine months of this year, including a record 797 million euros in just the three months ending in September.


"The bank's management is in an impossible situation Asics Onitsuka Tiger Mexico 66 Jaune Soldes ," Javier Noriega, chief economist with investment bankers Hildebrandt and Ferrar, said in an interview.


"It is still the third largest bank in Italy and it has good name recognition and a national network. But with each passing day it is weaker and weaker with no clear way to reverse the trend," he added.


The most logical strategy would be for Unicredit or Banca Intesa San Paolo Asics Onitsuka Tiger MEXICO 66 DELUXE Blanche Soldes , the two Italian lenders that dwarf Monte dei Paschi's size, to absorb it. But both have said they are not interested. Any other Italian bank would be too small to pull off a deal.


French banker BNP-Paribas has been mentioned as a possible suitor. The Paris-based institution already owns Italy's Banca Nazionale di Lavoro, and a deal for Monte dei Paschi would catapult it from sixth place among Italian bankers to third, but after an 8.9-billion-dollar fine from the U.S. regulators Asics Onitsuka Tiger Mexico 66 Mid Runner Jaune Noir Soldes , BNP-Paribas may be gun-shy. A fresh round of speculation tied to BNP-Paribas pushed Monte dei Paschi shares up earlier this week.


In Siena, hope remains that a "white knight" investor -- a wealthy investor or institution willing to inject capital into the bank -- from China, the United States or Europe might step in and allow the bank to retain its identity. But there is little hard evidence such a deal may be in the works. (1 euro = 1.25 U.S. dollars)


Asian artwork, as we know Asics Onitsuka Tiger Mexico 66 Slip On Blanche Soldes , is extremely cultural in concept and this is simply because amongst the seven continents within the globe, nothing may be as diverse as Asia when it comes to its way of life and tradition. Speak about a number of sects of religions current and we are able to currently discover the logic behind this kind of diversity. But despite affect of this a