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Italy's parliament has approved a 20 billion euro rescue plan for the country's weaker banks and to try to restore confidence in the wider banking sector. The third largest, "Monte dei Paschi di Siena": https://en.wikipedia.org/wiki/Banca_Monte_dei_Paschi_di_Siena, will be the first to benefit, as early as this week. Parliamentary approval was needed for the state to take on new debt. Italy's banks have on their books around a third of Europe's toxic loans, that are unlikely to be paid back.… READ MORE : http://www.euronews.com/2016/12/21/italy-moves-ahead-with-20-billion-euro-bank-rescue-plan euronews business brings you latest updates from the world of finance and economy, in-depth analysis, interviews, infographics and more Subscribe for daily dose of business news: http://bit.ly/1pcHCzj Made by euronews, the most watched news channel in Europe.