Govt close to Bank of Italy reform plan

The parties within the right-wing government led by Prime Minister Silvio Berlusconi are close to a compromise regarding the reform of the Bank of Italy, the daily La Stampa said, without giving a source.

The central bank, which is mainly owned by private banks, will be nationalised and owned by the treasury; the appointment procedure for its governor will be changed and a limited tenure established; and decision-making will be revised, according to the daily.

Banking competition supervision could

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