Banking

Italian coalition at loggerheads over bank stake sale

Plans to sell a controlling stake in Monte Paschi, the world’s oldest bank, is leading to disharmony

The proposed sales come as Italy faces worse than expected economic growth

Italy’s government is in disarray over plans to sell assents to bolster finances. The proposed transaction would includes the disposal of the state’s controlling stake in world’s oldest bank.

Forza Italia, the party founded by Silvio Berlusconi and now led by deputy prime minister Antonio Tajani has said the government should accelerate its efforts to sell a controlling stake in Banca Monte dei Paschi di Siena.

Tajani stirred controversy over the weekend when he told ...