Martedì, 20 dicembre 2005

Bank of Italy's governor quits his job Antonio Fazio quits his top job at the Bank of Italy after a very, very long resistance. Read La Repubblica and Il Sole 24 ore about it. Judges in Milan and other Italian cities are looking into Fazio's actions. The governor is accused of having helped Giampiero Fiorani, the former head of Banca Popolare Italiana, who is now in prison. The new Italian financially ugly story is about takeovers, banks, politics and corruption. Fazio seems to have accepted gifts from the wrong kind of friends. But the noir probably started when, in 1999, when prime minister Massimo D'Alema, a former communist, helped the takeover against Telecom Italia. Fazio seems to have been helping D'Alema in that case, while also helping some emerging Italian financiers that didn't necessarely think leftist... The recent scandal seems to be dangerous for some leftist and some rightist politicians. Italy confirms a wonderful country for "creative" capitalism. 12:21:37 AM    comment [];

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