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Economy & Policy

Italian consumer watchdog appeals to block Monte Paschi bailout

Italian consumer watchdog group Codacons said on Wednesday it had appealed a court ruling in which the government was given the green light to lend 3.9 billion euros ($5.10 billion) to troubled lender Banca Monte dei Paschi di Siena .

Codacons is seeking to block the bailout, saying it wants Monte dei Paschi nationalised.

A hearing will be held on March 8 by the administrative appeals court in Rome, the consumer watchdog said in a statement.

($1 = 0.7649 euros)

(Reporting by Giuseppe Fonte. Writing by Steve Scherer.)