The Government "is studying a moratorium" for the only two cooperative banks with assets exceeding 8 billion euros that have not yet transformed into joint-stock companies, Popolare di Sondrio and Popolare di Bari. This was announced by Corrado Sforza Fogliani , president of Assopopolari, on the sidelines of the ABI (Italian Banking Association) executive committee. For now, everything has been postponed to July 12, when the hearing of the Council of State is set to decide the new timing for the transformation of the cooperative banks into joint stock companies.
“For the other banks – commented Sforza Fogliani – there isn't much to do except far-reaching measures”.
The reform of cooperative banks, promoted by the Renzi Government in the past legislature, provides for the transition from the form of cooperative governance to that of the joint-stock company and the overcoming of the per capita vote (one person, one vote) for credit institutions with assets exceeding 8 billion euros.
On the constitutionality of the reform, doubts had already been raised by the Council of State in 2016, then confirmed in 2017. Instead, the Constitutional Court last March 21 expressed itself positively on the legitimacy of the reform of the Popolari, for which the hearing on the suspension scheduled for July and that of merit on the question of the transformation into a joint-stock company and the right of withdrawal of shareholders scheduled for the month of October with a decision that "could arrive in November", concludes Sforza Fogliani.
