A scandal at home lays bare Draghi's struggle

A derivatives scandal at Italy's third-largest bank shows the challenges the ECB will face in supervising thousands of Europe's smaller institutions, and the reputational risk it must guard against while doing so.


The mud bubbling up from the banking scandal at Monte dei Paschi di Siena has served as handy campaign material for Italian politicians to lob at rivals ahead of this month’s election. Now even an Italian 1,000km away is wary of being splattered.


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