Italy favours fixed term for central bank chief

According to Italy's economy undersecretary Maria Teresa Armosino the government is ready to set a fixed term of office for the Bank of Italy governor, rather than the life term that currently applies.

A fixed term 'is the hope of all people of good sense. Also the Bank of Italy has already made a commitment on a fixed term four months ago, after suggestions from the European Central Bank,' she said.

'But the problem is not only this (fixed term). In other central banks, there is collegiality i