Monte Paschi’s Italian Rescue Wins EU Approval

Italy plans to rescue Monte Passkey, the world's oldest bank, with a $6 billion capital injection. The European Central Bank had to confirm the bank's solvency, and a strategy to offload €26 billion in bad loans was needed. A preliminary deal with Atlante was reached. Restructuring plans include cost cuts and branch reductions, with more details expected soon. The Italian government views this as a turning point for the banking sector, following a similar deal in Veneto. The future will reveal if investors share this optimism.

What changes are expected in the branch network and personnel as part of the restructuring?

What is the optimistic scenario regarding the Italian banking sector mentioned in the text?