'A bank that has proved multiple times that it has no reason to exist should exit the market to allow stronger competitors to survive.'<blockquote>'This isn’t Monte Paschi’s first state-aid rodeo. Italy bailed it out twice after the crisis when the lender failed stress tests, posted billions of euros of losses and creaked under a mountain of bad loans.
The bank’s track record has convinced some observers that it should be put into resolution, not bailed out. That would require a determination by the ECB that Monte Paschi is insolvent.
“A bank that has proved multiple times that it has no reason to exist should exit the market to allow stronger competitors to survive,” said Lutz Roehmeyer, a fund manager at Landesbank Berlin Investment in Berlin. “Permanent rescues make it impossible to clean up the market and achieve risk-adequate pricing.” '
- Boris Groendahl,
Monte Paschi Rescue Pushes EU Bank-Failure Rules to the Brink, December 23, 2016</blockquote>
Context<blockquote>
'..the mismanagement and corruption of bankers and politicians in the 21st century.'</blockquote>