Visco calls for powers to dismiss bank directors

Ignazio Visco

The Bank of Italy governor, Ignazio Visco, covets greater powers to intervene in the senior management of banks, following the "grave developments" at Monte dei Paschi di Siena (MPS).

Visco, in a speech on February 9, said the Bank of Italy – as the country's supervisory authority – must be equipped with the powers to make a thorough assessment of the "fitness" of banks' directors and senior management, and to step in where necessary.

"It must be able to intervene effectively in cases where, on

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