EU grants Monte dei Paschi more time to issue junior debt
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MILAN (Reuters) - The European Commission said on Thursday it had granted Italy an extension of the deadline by which bailed-out lender Monte dei Paschi di Siena must issue a certain amount of subordinated debt.The Commission said Italy had proposed in exchange a series of additional commitments aimed at further reducing Monte dei Paschi's cost base and restore its viability.After being unable to tap markets to raise riskier debt for many months due to political turmoil at home, Monte dei..