ECB opposes BoI reform bill

Attempts to reform governance structures at the Bank of Italy (BoI) yesterday received another blow when Lorenzo Bini Smaghi, a member of the ECB's executive board, said the government should amend some of the initiatives proposed in a parliamentary bill.

If approved the bill would introduce wholesale changes to BoI stuctures. Amongst other initiatives, it contains proposals on changing the BoI's ownership structures and suggests the introduction of a seven-year, non-renewable mandate for the

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