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SIENA AND THE MONTE DEI PASCHI CRISIS

The world's oldest banking institute (founded in 1472) has made it into the media big time since 2012. But not because of its longevity. 

Wondering what the financial nightmare is all about? I'm still trying to figure it out - just as everybody else who's living in Southern Tuscany.  

The crisis of the Monte dei Paschi bank isn't just about MPS employers losing their jobs and museums their funding (which on its own is already bad enough). But it's also about research, universities and even kindergartens. Basically every age group in and around Siena will be affected in some way or another by the drying up of the streams of money that supported most social and cultural aspects of Southern Tuscany. 



Roman emperors looking down from Monte dei Paschi owned Palazzo Spannocchi
Right, I would look worried too.
Palazzo Spannocchi, part of the MPS HQ in piazza Salimbeni


Want to know more? The art newspaper has published a well researched article in April, which explains some of the artier effects of the bank's crisis.  

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