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Italian bank head previously sued Santander over remuneration dispute
Mustier’s departure reflects tensions playing out the world over from the US presidential election to Brexit
Elite jobs are notoriously inaccessible to newcomers — Cerberus’s failed Deutsche coup being the latest example
Appointment seen as clear signal country’s largest bank will be forced to play role in sector consolidation
Finance minister puts reputation on line to fight election and justify bank bailouts
Padoan fends off criticism that government mishandled country’s financial difficulties
Portugal’s Mário Centeno and Pier Carlo Padoan of Italy are frontrunners for the job
Minister questions ‘method and substance’ of idea for banks to hold more collateral
Recapitalisation of lender will remove a significant weight from the Italian financial system
Deal to take control of good assets from the two banks seen as difficult to agree
Rome agrees with French suggestions to improve working of single currency area
Rome acts to avoid punishment for breaching eurozone rules on public finances
Criticism follows central bank’s calculation that MPS needs €8.8bn of fresh capital
Bondholders face losses as last-gasp private rescue plan looks set to fail
Harsh criticism from opposition parties as Gentiloni is sworn in
Options include early general election and asking Renzi to lead interim administrationtry to
Italy’s next PM will be older and more reserved than the 41-year-old stepping down
International Edition