Maria Elena Boschi "will come out great, she has nothing to hide". The Economy Minister, Pier Carlo Padoan, speaking on "Radio anch'io", intervenes on the bankruptcy of Banca Etruria and tries to stop the controversy over his government colleague, against whom the M5S has presented a motion of no confidence. In the affair of the four banks saved from bankruptcy, the government then renews its confidence in the work of both the Bank of Italy and Consob, even if individual cases will have to be verified. And prepare new measures to speed up the disposal of non-performing loans.
“The institutions are supportive and they are strong. The government has full confidence in Bank of Italy and has full confidence in Consob,” Padoan said, adding that “nobody dumps the barrel on anyone else”. “There have been, and will need to be verified, individual responsibilities in some banking institutions and some operating segments of the banking system, which will need to be verified on a case-by-case basis. The institutions and the system remain solid”, the minister said again.
The government has proposed, with an amendment to the Stability law, to activate a fund of 100 million, to partially compensate some of the approximately 10.500 holders of subordinated bonds of the four banks Banca Marche, Banca Etruria, CariChieti and CariFe, canceled together with the shares as part of the bailout plan that allowed the use of the Resolution Fund for 3,6 billion.
The minister reiterated that the weakest will be protected first but that "it is still early to talk about thresholds, it is a complex issue, we need to set in motion an arbitration mechanism, which we will do".
Speaking of the situation of non-performing bank loans, Padoan also said that "the government will take other measures to speed up the management of non-performing loans". "We will continue to act in terms of disposal", underlined the head of the Economy, specifying that "the banking system is solid and the paradoxical demonstration of this solidity is that, unlike the banking systems of other countries which have had to use huge of public money, which has not happened here, has emerged unscathed from a recession that has taken away more than 10% of GDP”.
