Mario Nava has resigned as president of Consob. He did it before the Board of the Stock Exchange Supervisory Authority in an extraordinary and urgent meeting.
Nava's decision, anticipated by the Sole 24 Ore website, comes after pressure from the majority of the Lega-Cinque Stelle government which had insistently and controversially asked Nava, appointed at the time by the Gentiloni government, to resolve the alleged "incompatibilities" and to put his position in order with respect to the European Commission by renouncing the role of detached "in command", which required him to report his work to Brussels, and to put himself on leave.
Nava, who is a brilliant Eurocrat, refused and preferred to give up the presidency of Consob, which thus loses a valuable president after only a few months. But he kept the point arguing that four institutions had ruled out incompatibility for his role and that the end of his presidency is "a purely political issue because there was no legal reason". Then he said he was "embittered" by the choice he was forced to make and did not hide "the total political disapproval of the two majority parties" towards him and towards the innovative line he had expressed in Milan in relation to the market.
Now the Conte government will have the opportunity to appoint a new president and, according to the first in discretions, the choice could be internal to Consob itself and fall on Marcello Minenna, manager of the Authority close to grillini and former councilor of the Giunta Raggi in Rome. It is no coincidence that, as soon as he heard the news of Nava's resignation, the deputy prime minister and leader of the Five Stars, Luigi Di Maio, immediately exulted wildly, warning that "now the music is changing" with the "appointment of a servant of the state and not of finance international" and congratulating his followers who have led this ruinous battle from the beginning.
