The new Banca d’Italia

The final days of 2005 brought far-reaching changes for the Banca d'Italia. A new law passed by Italy's parliament will mean new governance rules, the return of the state as majority shareholder, the introduction of collective decision-making and term mandates for members of the directorate, new procedures for the appointment and removal of the governor, a review of the role of the board of directors and, last but not least, a brand new governor.

For a slow mover such as the Banca d'Italia, accu