List of debtors yes, but only for the incorrect ones. And bad managers must be punished. This is in summary the thought of Economy Minister Pier Carlo Padoan, spoke at the hearing in the Senate on the MPS case and in general on the thorniest issues concerning Italian banks, from the four good banks to Unicredit.
However, it was Monte dei Paschi that most of the intervention focused on: in principle Padoan said he was in favor of making the list of large insolvent debtors public, even if not all names deserve to be disclosed. That is, it is necessary distinguish between those who have implemented "incorrect" behaviors and those who, on the other hand, have accumulated debts because they are unlucky. "In principle, I think transparency is important, it is part of building trust, but we need to think broadly about how we get to identify unfortunate and incorrect behaviors that can lead to the accumulation of debt," said the minister. Words that mark an opening on the part of the Government on the subject of the so-called black list, but the result is still far off given that there are legal problems, as highlighted by Padoan himself.
Then there is the question of the managers, who are to be harshly sanctioned in case of impropriety. “In some Italian banks – Padoan said – there has been management by directors and managers who may have violated ethical and penal rules. For all these cases the Government hopes that justice will quickly take its course and that all those who have caused damage to the community, local communities, savers and investors are sanctioned".
On Mps Padoan then concluded by saying that “the management of Mps which has also expressed its willingness to relinquish its mandate enjoys the trust of the Government. At the time of the actual entry of the State into the bank's capital, a new board of directors will be appointed". On the good banks, the Economy Minister instead said that the retail bondholders of the four banks under resolution (Etruria, Marche, Carife and CariChieti) total repayments of 190 million euros will go.
“It is possible that we are facing a positive turning point – explained the minister -. Ubi said it was willing to acquire 3 of the 4 good banks. Unicredit launches a capital increase, there will be a recapitalization of Mps. All positive signs that give an important signal that the Italian banking system is turning the page and therefore the grafting of a virtuous circle of return to a situation of normality and exit from the crisis cannot be ruled out”.
