Bank of Italy under siege

The trials and tribulations of Antonio Fazio, governor of the Bank of Italy, have raised many disturbing questions regarding the governance of Italy's central bank and of its regulatory system. This is a very sad business. This is the first of a new regular comment by CentralBankNet.

In a country where governments used to come and go frequently and the spectre of corruption and maladministration loomed large over many public institutions, the Bank of Italy had developed a reputation for being one

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