What will the Governor of the Bank of Italy, Ignazio Visco, and the Minister of Economy Pier Carlo Padoan say to the bankers shocked by the partly unexpected results of the stress tests of the EBA and the ECB and to the banking foundations enraged by the tax increase envisaged by the Stability Law? We will know in a few hours when the celebration of the XNUMXth Savings Day opens in the beautiful hall of the Palazzo della Cancelleria (that of the Sacra Rota) in the heart of Rome.
After the intervention of the president of ACRI, Giuseppe Guzzetti, who will not fail to express the dissent of the Foundations and after that of the president of ABI, Antonio Patuelli, who will not fail to assert the fears and expectations of the Italian banks, it will be Visco's turn and in Padoan. Neither of them have an easy task ahead of them.
Visco will have to explain why, despite the reassurances on the eve, the Italian banks have come out worse than the German banks despite not having all the derivatives of the credit institutions operating in Germany in their stomachs. And it will also have to clarify how and why the criteria of the EBA and the ECB sound contradictory and penalizing for Italian banks.
Instead Padoan will have to explain the logic of the Stability Law and that of the Government's economic policy which does not look at anyone and which this time has certainly not given discounts to the banking foundations.
