Monti repeats backing for Bank of Italy over Monte Paschi

ROME (Reuters) - Italian Prime Minister Mario Monti repeated on Monday his backing for the Bank of Italy and its former governor Mario Draghi over the mounting scandal surrounding the troubled Monte dei Paschi bank.

"I want to confirm my full confidence in the Bank of Italy and in those who are in charge of it and who have been in charge of it," he said during a talk show on Italy's La7 television channel.

The Bank of Italy and Draghi, who was the central bank's governor at the time, have faced mounting questions over their oversight of complex derivatives and structured finance transactions by Monte dei Paschi between 2006-2009, which could cost as much as 720 million euros ($970.19 million) for the Tuscan lender.

($1 = 0.7421 euros)

(Reporting by James Mackenzie)

Source: http://news.yahoo.com/monti-repeats-backing-bank-italy-over-monte-paschi-073302296--finance.html

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