Italy's Saccomanni hits out at protectionist claim

Fabrizio Saccomanni, the director general of the Bank of Italy, has attacked claims that a new facility set up by the central bank is protectionist.

Willem Buiter, a former member of the Bank of England's Monetary Policy Committee now a professor at the London School of Economics, said over the weekend that the central bank's collateralised interbank market set up earlier this month "clearly violates" the eurosystem principle of "equal treatment of institutions across the euro area" as it was