Wall Street

Analysis-Draghi’s fall leaves Monte dei Paschi’s cash call in the lurch

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Reuters UK

By Valentina Za and Giuseppe Fonte MILAN (Reuters) – Monte dei Paschi di Siena (MPS)’s seventh capital raising in 14 years was always going to be a hard sell, now Italy’s political crisis risks turning it into a mission impossible. Even before Prime Minister Mario Draghi’s national unity government collapsed this week, propelling Italy towards an election on Sept. 25, MPS CEO Luigi Lovaglio faced a tough job to convince investors the Tuscan bank is a more attractive buy than healthier, cheaper rivals in Italy. State-controlled MPS, the world’s oldest bank, plans to raise 2.5 billion euros ($2….

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