Coup de scene in Montecitorio. The Chamber approved the dem motion on the criteria for appointing the new Governor of the Bank of Italy with 213 yes, 97 no and 99 abstentions. And so, when the reappointment of Ignazio Visco as Governor of the Bank of Italy seemed close, the Democratic Party shuffles the cards and presents a motion against the renewal of his mandate expiring on 31 October. The Chamber has indeed rejected the other motions, including that of the 5 Star Movement, which directly asked not to confirm Visco, but the substance does not change much.
The Democratic Party therefore decides to adopt the hard line supported by the secretary Matteo Renzi who reproaches Visco for the late intervention on the 4 banks in Central Italy placed in resolution by the Government in November 2015 (Banca Etruria, CariChieti, Banca Marche and CariFe), but also the weak supervision placed by the central institution on the Veneto banks.
The document presented by the center-left party calls on the government to undertake "to adopt any useful initiative to strengthen the effectiveness of supervisory activities on the banking system for the purpose of protecting savings and promoting a greater climate of citizen confidence by identifying for this purpose, within the scope of its prerogatives, the most suitable figure to guarantee new trust in the Institute”.
The request is clear and simple: choose another figure who will guide the Bank of Italy in the coming years.
The document notes that "this is a particularly delicate choice in consideration of the fact that the effectiveness of the supervisory action of the Bank of Italy has been questioned in recent years by the emergence of repeated and significant situations of crisis or instability of banks, which regardless of the reasons that gave rise to them - on which the competent bodies will rule, including the Commission of Inquiry set up for this purpose - could have been mitigated in their effects by a more effective and timely prevention and management of banking crises".
Heavy criticisms that cannot go unnoticed also because, in the subsequent passages of the text, the Democratic Party increases the dose: "The aforementioned situations of crisis or instability have forced the government and Parliament to approve extraordinary interventions to protect savers, including through the use of public resources, and safeguard financial stability, without which there would have been dramatic effects on the entire banking system, on citizens' savings, on credit to the production system and on the safeguarding of levels employment".
The reference to the numerous is clear banking scandals of recent years: from the 4 banks under resolution to Mps, passing through the deep crisis of Popolare di Vicenza and Veneto Banca.
After the certainties of the last few days, thirteen days after the expiry of his mandate, the reconfirmation of Visco - who said he was ready to be heard by the parliamentary commission of inquiry into banks - therefore seems to have been jumped at the last minute. Now the "ball" passes into the hands of the Prime Minister, Paolo Gentiloni and the Head of State, Sergio Mattarella, who, although originally in favor of Visco's confirmation, will not be able to ignore the clear pronouncement of the Democratic Party and the Chamber. However, the Quirinale issued a warning full of meanings that can be summarized as follows: respect the interests of the country and the independence of the Institute.
However, Gentiloni and Mattarella could suggest an internal candidacy to the Bank of Italy exactly as was done for the appointment of Visco at the time of the last Berlusconi government in order to change the Governor and ensure renewal but without making a bundle of all herbs and without mortifying the innovative professionalism that still exists in Via Nazionale.
Finally, it should be remembered that the Government has expressed a favorable opinion on the text of the Pd motion, however requesting some changes to the premises. The oppositions instead ask to postpone the appointment of the new governor until after the elections.
