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Reek of Desperation Surrounds EU Banks As Regulators Prepare for "Derivatives Clearing Crisis"

In Italy, JP Morgan Chase's master plan to save Monte dei Paschi continues to flounder as investors show zero appetite for more MPS capital. In fact, expectations are so low that rumors have already began surfacing that an alternative plan, under the aegis of Italy's former Industry Minister and senior banker Corrado Passera, is now in the works. It all reeks of desperation.
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