Trichet: 'Fazio is one of us'

ECB president Jean-Claude Trichet said on Thursday 1 September that beleaguered Bank of Italy governor Antonio Fazio remains 'one of us' and rejected suggestions that the Governing Council was divided on the Fazio issue.

Italy's cabinet met on Friday to draft reforms to the Bank of Italy, with ministers divided over how much pressure to put on Fazio after a scandal over his handling of a takeover battle.

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