Fazio may face ECB probe

The European Central Bank may decide at its council meeting Thursday 15 December to open a formal inquiry into Bank of Italy governor Antonio Fazio's links with former Banca Popolare Italiana CEO Gianpiero Fiorani, said Corriere della Sera in an unsourced report.

ECB president Jean-Claude Trichet may make this move after Fiorani's arrest Tuesday, and after Italy's Prime Minister Silvio Berlusconi said he has no power to ask Fazio to resign, it said.

In particular, Trichet would query alleged gi