The liquidation of the two Venetian banks will have "very low or even zero" costs for the State. The top management of the Bank of Italy are convinced of this with the Deputy General Manager Fabio Panetta who illustrates the details of the liquidation carried out over the weekend together with the head of Supervision Carmelo Barbagallo. The orderly liquidation (lca) was without alternative, they explain from Palazzo Koch, and it was done in compliance with the rules.
“It is a necessary, inevitable and cost-effective solution”, comments Panetta, "a shock to the financial system and the real economy was avoided". Panetta refutes the thesis that last year could have done better and at lower costs. Far from it: “There would have been a bloody bail-in, with the activation of the Interbank Fund. A very costly and potentially disruptive outcome for the Italian economy”.
