Share

Banks: halt the Commission of Inquiry, Panetta General Manager of Bank of Italy

Fabio Panetta is the new Director General of the Bank of Italy - Daniele Franco and Alessandra Perrazzelli are the new entries in the Directory - Strong perplexities from the Quirinale on the Parliamentary Commission of Inquiry into the banks commissioned by 5 Stelle and Lega, which risks only discrediting the entire Italian banking system

Banks: halt the Commission of Inquiry, Panetta General Manager of Bank of Italy

Il Qurinal has a thousand doubts about the opportunity to set up one Parliamentary commission of inquiry into banks and the President of the Republic, Sergio Mattarella, has not yet decided whether or not to sign the law establishing it and for this he has summoned the two presidents of the Chambers, Elisabetta Casellati and Roberto Fico.

The reasons for Colle's doubts about the Commission of Inquiry, commissioned by 5 Stars and the League to impeach the banking system, are known and have their roots in parliamentary history which has so far reserved the Committees of Inquiry, who have the same powers as the judiciary and therefore also that of immediately arresting a witness considered reticent, only to criminal phenomena such as the mafia or terrorism.

Establish a commission of inquiry into banks, after a parliamentary commission of inquiry was held in the last legislature, could discredit the entire banking system by insinuating the doubt that those of the banks or supervisory authorities have been or are indiscriminately fraudulent, incorrect and harmful to the rights of savers and citizens.

Reinforcing these doubts there is also the concern that the Commission, in the intentions of 5 Stars and the League, will not be used to identify any defects in the banks but to try them with a preliminary ruling and put them in the sedan with very heavy repercussions also on share prices and on the credibility of the Italian banking system at an international level.

The idea, launched by the Deputy Prime Minister Luigi Di Maio, to entrust the presidency of the Commission of Inquiry to a figure like Pierluigi Comparison, the former television presenter of the "Gabbia", accentuates Colle's perplexities who, if in the end were to give the go-ahead to the law establishing the Commission, will do so accompanied by severe warnings and precise requests for responsibility.

THE NEW APPOINTMENTS IN BANKITALIA

While the Commission of Inquiry opens a new dialectical front between the Government and the Quirinale, yesterday the Bankitalia has started the renewal of the Directory after months of government meddling in central bank appointments. After the renunciation of Salvatore Rossi "out of a sense of responsibility" in a second term as Director General, the Superior Council of the Central Bank has proposed, on the initiative of Governor Ignazio Visco, the promotion of Fabio Panetta, former Deputy Director, to new General Manager of the Institute of Via Nazionale.

Two new figures also enter the Directory, viz the former General State Accountant, Daniele Franco, and the lawyer Alessandra Perrazzelli, formerly at the helm of Barclays Italia and currently vice president of Assolombarda.

Now the Bank of Italy's proposals for the new Directorate pass under examination by the Council of Ministers, which must express a mandatory but non-binding opinion before transmitting the decree of appointments for final and decisive scrutiny by the President of the Republic, but it is very probable that, after the departure of a Director General of sure independence and competence like Salvatore Rossi, Northern League and grillini supporters will give their consent to the claimed "discontinuity" of Via Nazionale. In fact, Reuters reports the opinion of a government source which anticipates the positive opinion of the Lega and Cinque Stelle on the new appointments.

comments