Monte dei Paschi: Pioneering Public Credit & Financial Innovation

The story of Monte dei Paschi, an early fusion of government policy and financial innovation, showcases how it grew from a local institution into a financial cornerstone. We adapted its deposits guaranteed by the Duchy's state-owned lands. #MonteDeiPaschi #FinancialHistory #BankingInnovation #PublicCredit #GovernmentPolicy #Siena #Tuscany #FinancialInstitutions #EconomicHistory #banking

Discover the unbelievable true story of Banca Monte dei Paschi di Siena, the world’s oldest surviving bank, founded in 1472 in the Italian city of Siena. This historic institution has witnessed the rise and fall of empires, weathered wars and economic crises, and survived one of the biggest banking scandals in European history.

In this video, we explore Monte dei Paschi’s extraordinary 550-year journey — from its origins as a monte di pietà providing ethical loans to the poor, to its transformation into a major financial power, and its near-collapse in the wake of the 2008 global financial crisis.

Learn how the bank’s controversial 2007 acquisition of Banca Antonveneta, complex derivatives contracts like “Santorini” and “Alexandria,” and multiple bailouts led to legal battles, public scrutiny, and a decade of turmoil. And see how, against all odds, Monte dei Paschi staged a dramatic turnaround in 2023 — posting its biggest profit in modern history.

The genesis of modern finance traces back not to Wall Street, but to Siena, Italy, as this video explores the medieval roots of the global banking system, highlighting the significance of the banca monte dei paschi di siena and medieval banking practices. See how this small city influenced financial systems and economic history. Thanks for watching! Please like, subscribe and comment if you enjoyed!

Thanks for watching! Please like, subscribe and comment if you enjoyed!

Source: https://en.wikipedia.org/wiki/Banca_Monte_dei_Paschi_di_Siena

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Видео Monte dei Paschi: Pioneering Public Credit & Financial Innovation канала Nord Stories