Italy’s Banca Monte Dei Paschi Siena Down From 9,097 Euros In May 2007 To 3 Euros Today
Is Europe out of the woods yet? Nope. Eighteen European countries have negative 2-year sovereign yields. Not a good sign.
Italy has positive YoY GDP growth (1.61%), but the second highest Debt as a percentage of GDP (after Greece).
With the Italian elections a complete mess (like their economy and banking system), problem-child bank, Banca Monte Dei Paschi Siena, continues its downward drift.
While BMDPS is trading at just above 3 Euros per share, the longer-term performance is more telling. Despite the ECB’s Zero Interest Rate Policy and QE, BMDPS has fallen from over 9,000 Euros per share in 2007 down to 3 Euros per share today. That is a percentage loss of 99.97% since May 18, 2007.