Finally we see the Italian authorities and pressure groups show that they have some influence. It is not done yet. Fazio should have gone already, although, EU competition commissioner has just given his actions a clean bill of health so he is not completely without friends.
Maybe she will give him a job.
OAM
See article:
Italy's governmnent was on Wednesday set to agree on far-reaching reforms to improve the Bank of Italy's governance as political support for Antonio Fazio, the embattled central bank governor, eroded further.
The proposals are expected to be put to a cabinet meeting on Friday and to win broad support among ministers, including some who until recently have defended Mr Fazio from accusations of biased intervention during the takeover battle of an Italian bank.
Giorgio La Malfa, European affairs minister, who has previously expressed firm but qualified support for Mr Fazio, on Wednesday became the first cabinet member to say publicly that the governor should consider resigning, “in the primary interest of the state and of the Bank of Italy.”
See full Article.
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