Today’s post looks at the news that the Italian Bank Monte dei Paschi di Siena (hereafter ‘BMPS’), the oldest bank in the world , is on the verge of being bailed out by Italian authorities, with the confirmation of the E.U., to the tune of €6.5 billion. Whilst the post will discuss the developments in this case, an interesting ‘rationale’ will be discussed, because as we shall see the fear-mongering developed after the financial crisis i.e. economic collapse, has now given way to fear-mongering of a political nature. The post will look at how these elements represent the exact same thing: the preservation of the roles of private business and a subservient public. Monte dei Paschi di Siena, the world’s oldest bank and a staple within Italian and European finance, has been experiencing a number of difficulties ever since the Financial Crisis, with the bank reporting consistent losses and job cuts in a bid to turn its future around. However, as a result of its botched purchase of ...