Padoan: strongest banks but the employees are too many – Il Sole 24 Ore

History of the article

Close

This article was published May 1, 2016 at 14:05 hours.
the last change is the May 1, 2016 at 14:28 hours.

“the aim of our reforms is: fewer banks, but stronger and able to grant credit in families and businesses. But do not hide behind a finger: there is excess employment that will run at different times and appropriate manner. With mechanisms that facilitate the exit from the work of the bank close to retirement. ”

So Economy Minister Pier Carlo Padoan in a long interview with Republic in which defines a ‘fair solution’ the decree to compensate the bondholders of the 4 banks, defends the fund Atlas and the action of the ECB .

On compensation, ‘the measures allow a large number of savers and bondholders to get an automatic refund up to 80%. ”

Percentage explains Padoan, who “takes account of the fact that they have benefited from returns and interests that cover the remaining amount; we set this threshold to prevent someone eventually incassasse refunds greater than the initial outlay. Who is not eligible or do not want to use them in any case the way out to turn to arbitration. ”

With regard to quicker recovery times for receivables, “increases the value of suffering, which triggers a market of the same sufferings that did not exist or were very small. It is a real shock, very positive, “said Padoan. “Today, banks with bad loans did not free and therefore do not grant new loans; businesses so vivacchiano no credits, and eventually the economy will stop. ”

The fund Atlas “enables recapitalizations, as was the case for the People of Vicenza, without the anguish of fibrillation in the markets,” says the minister. “Secondly it adds weapon at the start of the sufferings market, because a portion of the resources will be destined for securitization, with benefits also for the real estate assets of the banks.”

With regard to the criticism of the president of the Bundesbank Jens Weidmann, “growth is the main way to reduce debt,” noted Padoan. Moreover, “the ECB is belied by the facts. I am not convinced that the relationship is between monetary policy and delay reforms, so much so that even though we benefit from the lower rates are the ones who make more reforms. ”
Speaking of voluntary disclosure, “we are evaluating the possibility of a new return of capital, but it is clear that there will be an amnesty because they all pay evaded taxes,” said Padoan. On the CDP, “today the public money is a tool to boost growth,” noted the minister, who denies a return of IRI: “We want profitable projects, involving private individuals for them to invest more.”

© ALL rIGHTS RESERVED

Permalink

“+” “+”

“+ last +” | “Datalunga + +” “+ time +” | Real-time

“);} else {$ ( ‘.finanza-right-art .GraficiAndamento’). append (” “+” “+”

“+ last +” | “+ datalunga +” “+ time +”

“);} $ ( ‘.finanza-right-art .TabellaDati’). append (”

”
 + “” + name + “

”
 + “” + last + “

”
 + “” + a + change + “

”
 + “” + time + “

”
 + ““); }}); $ ( ‘.finanza-Right-art .TabellaDati’). Trigger ( ‘dataloaded’); }, DataType: “json”, error: function (XHR, status, error) {console.log (status + “” + error); }});