Italy's Monte dei Paschi bank faces state bailout

Italy's Monte dei Paschi di Siena bank has failed to clinch the support of private investors for a rescue plan. That makes a taxpayer-funded bailout, possibly up to €20 billion, the only way for Italy's third largest bank to survive. According to EU rules, investors must bear some of the losses in a bailout, which would hit many small savers holding the bank's bonds.