Italy's "bitter" bank 救助（する） tsar bemoans 戦略 vacuum
By Valentina Za
MILAN, Feb 7 (Reuters) - The 長，率いる of Italy's bank-bailout 基金 said on Tuesday the country 欠如（する）d a （疑いを）晴らす 戦略 for 転換ing 356 billion euros ($381 billion) in problem 貸付金s.
In an 驚くべき／特命の／臨時の 爆発 from a man 選ぶd by Rome to help 取り組む the problem, Alessandro Penati, whose boutique 資産 管理／経営 会社／堅い was chosen to raise 私的な 基金s for struggling banks, said he felt "bitter and disillusioned".
His comments exposed 緊張s within the banking 部門 over Italy's 救助（する） 成果／努力s.
"There is no （疑いを）晴らす 見通し of the problem and no 戦略," Penati said at a 財政上の 会議／協議会 in Milan, 示唆するing that he was 事実上 working alone on 救助（する）s that had 明らかにする／漏らすd "horror stories" within some banks.
"There is 簡単に a reaction to a problem and this has been the main difficulty for me over these past few months -- I had nobody to relate to."
The Atlante 基金, created 10 months ago に引き続いて 圧力 from the 政府, gathered 4.25 billion euros from around 70 mostly 私的な 投資家s, 含むing Italy's healthier 貸す人s, to buy up bad 貸付金s and 投資する in 女性 banks.
But the 基金's 投資家s are already making big writedowns on the value of their 火刑／賭けるs in Atlante, which 約束d them 年次の returns of 6 パーセント. The 基金 直面するs ever greater 需要・要求するs for 資本／首都 and no 投資家s willing to stump up more money.
In December, Penati's 計画（する） to buy into Italy's biggest-ever sale of bad 負債s -- 28 billion euros 価値（がある） of 貸付金s written by struggling bank Monte dei Paschi di Siena -- fell apart when the bank failed to find any other major 投資家s.
Penati, a former 経済学者 who 始める，決める up Milan-based Quaestio 資本／首都 管理／経営, said the sale had 崩壊（する）d because it had been tied to a 資本／首都 raising that had been "不正に 工夫するd and even more 不正に 遂行する／発効させるd".
Monte dei Paschi (MPS) is now to be 救助（する）d by the 明言する／公表する.
"It would no longer make sense for Atlante to play a 役割 now. The point is that 明言する／公表する 介入 is considered a way to solve all problems, but it isn't ... MPS's bad 貸付金 problem remains and how they are going to solve it -- I don't know."
The １０年間s-old problem, made worse by 最近の 後退，不況, has proven 堅い to 解決する because Italian banks are 気が進まない to 令状 負かす／撃墜する the value of their 貸付金s to market value, given this would 軍隊 them to raise more 資本／首都.
投資家s in Atlante, 含むing Italy's biggest 小売 bank, Intesa Sanpaolo, have made it （疑いを）晴らす they will not 投資する any more money in the 基金.
"The board of Intesa has (already) 認可するd a 1 billion euro かかわり合い ... This is our 出資／貢献," Intesa Chairman Gian Maria Gros-Pietro said when asked about Penati's 発言／述べるs.
Penati complained the 基金 had been created in an 緊急 and given "40,000 仕事s but no 資源s", 追加するing that to be 効果的な it would have needed an extra 4 billion euros. He said his experience at the 舵輪／支配 of Atlante had been a source of "深い bitterness and 失望 at a personal level".
"I thought a market for Italian 非，不，無-成し遂げるing 貸付金s could be created but based on the experience of the past six months I'm now 懐疑的な," he said.
Without a 第２位 market, the 仕事 of きれいにする up Italy's bank balance sheets could 証明する 近づく to impossible.
Penati said his 職業 had taken him inside some dark corners of Italian banking. "I had never looked at banks from the inside ... I was stunned they are run in this way," he said.
He said Atlante's 投資家s had shown "無 long-sightedness" for 拒絶する／低下するing to 投資する more in the 基金, which has used 80 パーセント of its money to 救助（する） two banks in northeast Italy -- Veneto Banca and Banca Popolare di Vicenza. Both these 貸す人s now need more 資本／首都.
Intesa has 平価を切り下げるd its 火刑／賭ける in Atlante by 33 パーセント and a source has said 競争相手 UniCredit could 令状 it 負かす／撃墜する by as much as 70 パーセント.
"They 投資するd in failed banks ... you need to wait three years before 査定する／（税金などを）課すing how much a bank like that is 価値（がある）," Penati said. ($1 = 0.9346 euros) (付加 報告（する）／憶測ing by Andrea Mandala; Editing by 示す Bendeich, Silvia Aloisi and Alexander Smith)
