It could be the current Minister of European Affairs, Paolo Savona, the new president of Consob. The indiscretion filtered through government circles last night and this seems to be the solution imagined by Prime Minister Giuseppe Conte to overcome the impasse of the appointment to the top of the Authority that supervises the Stock Exchange and the financial markets after the stormy exit of President Mario Nava, skewered by Lega and above all Cinque Stelle four months ago.
Savona's appointment would take him off the table the embarrassing candidacy of Marcello Minenna, the former councilor in the Giunta grillina of Rome and current Director of the Quantitative Analysis Division of Consob, both Prime Minister Conte - who is responsible for the proposal - and the President of the Republic, Sergio Mattarella - who has to sign the appointment decree - they have never hidden that they do not like it despite the showy sponsorship of a part of the Five Stars.
Savona, moreover, made no secret of his dissatisfaction with the substantial marginalization of his role in the Government and would be happy to ascend to the presidency of an important institution such as Consob at the age of 82. Certainly the age is not very young but Savona's competence in economic and financial matters is beyond question as is the morality and independence that the third paragraph of article 1 of the law establishing Consob requires of the president.
The necessary checks are now underway to ascertain that, according to the law, there are no profiles of incompatibility in the appointment of Savona and, if the outcome is positive, Consob could very soon have a new president. In that case Conte would assume the post of minister of European affairs ad interim immediately after the resignation of the Sardinian economist from the government.
Moreover, Savona's candidacy seems to bring both Lega and Cinque Stelle into agreement and market operators do not mind, as Conte - who would emerge strengthened by the solution of the complicated case - ascertained in his recent visit to the financial community in Milan.
