Siena officials and civic groups rally to defend Monte dei Paschi's autonomy

Civic lists in Siena – Sena Civitas, Pietraserena and Il Buongoverno – issued a joint statement supporting the independence of Banca Monte dei Paschi di Siena. They echoed CEO Luigi Lovaglio’s view that the bank should remain an independent operator contributing to credit diversity, and criticised Intesa Sanpaolo’s proposal as a primarily financial, non‑industrial transaction that could jeopardise the bank’s identity.

Mayor Nicoletta Fabio, after a unanimous city‑council motion on the bank’s future, said the municipality will request a technical assessment from the relevant ministry to determine whether special powers such as the “golden power” could be invoked. The motion stresses the protection of jobs, strategic management functions, the brand and the historic link between the bank and the local community. Fabio pledged to pursue these claims in all appropriate institutional channels.