Bailed out, Monte Paschi will she close in France ?

Bailed out by the Italian State, with the blessing of the european Commission and the ECB, Monte dei Paschi di Siena, the oldest commercial bank in the world still in activity, she will pull the curtain in France ? His plan dramatic restructuring presented at the beginning of July, envisages a refocusing on the Italian market to the general public and SMES, which translates into a decrease of 22% of the workforce, 5.500 positions of less by the end of 2021, and 30% of the number of agencies, which will rise to 2,000 in the whole of Italy to 1,400 in five years.

Little has been said on the foreign offices of the bank tuscany, which was established in 1990, a subsidiary in france and a fifteen agencies or business centres in Paris, in the chic districts and primarily in the South of France (Cannes, Nice, Marseille, Menton). The 275 employees of Monte Paschi Banque SA are concerned about their fate. The section FO the bank, and the Federation FO Bank have written on the 13th of July to the president Emmanuel Macron, with a copy to the Prime minister, Édouard Philippe, and to the minister of Labour, Muriel Pénicaud to raise awareness.

“The French subsidiary will be sold or even worse closed !” they argue in this letter to the press. “The 275 employees of the subsidiary have great fears and uncertainties about the future of the subsidiary itself, and in the case of revision, of their 18 agencies and their jobs.”

Avoid case-sensitive social

The secretary of the federal section of the credit FO, Sébastien Busiris, who sign this mail, request to the executive, “the greatest vigilance” regarding the future of the employees of Monte Paschi Banque SA and the implementation of a “rescue plan” for the latter, as well as a “specifications social” with the potential buyer.

“The good health of French banks added to the desire of banks to preserve employment in France shall allow, if everyone” plays the game “, to avoid a degradation of the welfare state, which however seems to be drawing if nobody cares.”

In a tract, the union FO takes less gloves and asks :

“What will happen to the 275 employees of the French subsidiaries and employees of the belgian subsidiary ? Sold to the highest bidder ? Purely and simply wound up ?”

When questioned, the mother house Monte dei Paschi di Siena was not available for comment.

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