Bank of Italy board supports Fazio

A majority of the Bank of Italy's governing board reaffirmed its confidence in beleaguered governor Antonio Fazio on Thursday 29 September.

"Most of the councillors took the opportunity to offer expressions of faith in the governor," Paolo Emilio Ferreri, who as its oldest member chairs the council, said in a statement sent by the central bank.

The board, known as the superior council, also declined to hold a special session to discuss the controversy surrounding Fazio. Critics have said he fai