Italian bank Monte dei Paschi di Siena (MPS) says its recapitalization bid has failed, meaning that it will have to be rescued by the government, according to dpa. The Tuscan bank says in a statement carried by the ANSA news agency that its four-day attempt to raise 5 billion euros (5.2 billion dollars) in fresh capital "did not end successfully." MPS was founded in 1472 and is considered the world's oldest lender. It is saddled with a mountain of bad loans and needs money to cover losses on them.
