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The square is home to the world's oldest surviving bank – Monte dei Paschi di Siena, founded in 1472.
Monte dei Paschi di Siena's claim to be the world's oldest surviving bank dates to its origins in 1472 in the Tuscan city from which it derives its name.
The oldest surviving bank in the world today is the Monte dei Paschi di Siena, founded in 1472.
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Another chunk is meant to recapitalise surviving banks—if they ask for it.
As a result, surviving banks can charge more for loans than during the boom.
The surviving banks have only gotten bigger and more politically powerful.
They maintain that the agency had few alternatives but to increase insurance rates for surviving banks.
Surviving banks, rather than expanding their deposits and loans to replace those of the banks lost to panics, retrenched sharply.
Now the surviving banks are campaigning for the deficit to be cut by shrinking the public sector.
On the other hand, exclusion from a round of nationalisation ought to serve as a strong signal of the financial wherewithal of the surviving banks.
Instead, the experts say, the government needs to plunge in, weed out the weakest banks, pour capital into the surviving banks and sell off the bad assets.
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