The bankers' protests worked. Just three days from resignation of Abi top management, the Government takes another step back on the liberalization decree. In particular, the law that canceled all bank commissions on credit lines had ended up in the sights of Giuseppe Mussari and his associates. The in extremis correction provides that the measure is valid "only if the banks have not complied with the rules on transparency".
Given that the liberalization decree has now received the ok from the Senate and today it lands in the House, which will have to approve it by March 24 to prevent it from expiring, the abrupt change of course comes by another route. In a game of communicating vessels, the pro-banking amendment – filed today in Montecitorio – was included in the decree for simplifications. This was announced by the speaker, Stefano Saglia.
The rules on transparency which credit institutions will have to comply with, Saglia specified, are those "issued by the ICRC", the inter-ministerial committee for credit and savings.
