Quote:
Italy's cabinet has approved a state-bailout for the country's third-largest bank, Monte dei Paschi di Siena.
Prime Minister Paolo Gentiloni said his government had authorised a €20bn ($21bn; £17.9bn) fund to support Italy's embattled banking sector.
The announcement came after Monte dei Paschi failed to raise €5bn from private investors.
The Italian bank said it would request a capital injection from the state to stay afloat.
Under new EU rules on bank bailouts, the bailout will entail a forced conversion of the bank's junior bonds - many of which are held by small investors - into shares.
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http://www.bbc.co.uk/news/business-38412557
Debt bailing out debt it seems to me. Who's going to pay for it?