Saturday, September 3, 2016

Banks, for Renzi all guilty: but the executive – ilgiornaleditalia

We will not take any blame, Renzi, for each of the nefarious management linked to the saving decree banks. Rather. “The problem – said in his speech at the Ambrosetti Forum in Cernobbio – has been underestimated by everyone: politicians, academics, journalists, entrepreneurs”. Without forgetting to add the first true responsible for an episode that has bankrupted thousands of investors, deprived of life savings and still waiting to be compensated: (his) government.

He throws the blame politics, “that has the greatest sins”, the Prime Minister. Without naming names and surnames of all those responsible for the Italian left, which always have built fortunes on the stronghold par excellence before the PDS and the DS and then the Democratic Party: the Monte dei Paschi di Siena. Helping to shelve it with wicked choices and still incomprehensible today. The Prime Minister in his monologue has run limited to admit that “the politicians thought they could continue to have a tremendous impact in the management of banks and the rest of Europe was going towards a different model, more serious. Any reference to some lenders as Mps and Popular is purely intended. But our system is much more credible as it is told. I think there are the conditions for the issue of the banks, thanks to the role played by the fund Atlas, can be addressed in the coming months definitively. “

Think of a reorganization of the Italian banking system, rottamatore (in words). And dreams (only now) that politicians remain out of the management of the banks and that these “are aggregated to each other, because there are more chairs than branches, and this does not help.”

Concepts to significant chatter go in contrast to that which until now has been a bitter reality. With members, including the government, which in recent months have been the focus of very emblematic conflicts of interest. With Palazzo Chigi who saved from the brink, on the skin of more than 13,000 savers, Popular banks in the middle of huge financial and judicial scandals in their ranks they boasted relatives tight (with apical roles) of ministers.

Well the Renzi statements do nothing but increase the disdain for one of the worst in recent years political pages, that still cries out for vengeance.

still honey phrases, then, by the Prime Minister, for MPS ” I hope that the capital increase will be carried out within the year. ” Statements that highlight all the difficulties of the group for a business plan that does not convince anyone. Even the Treasury, the largest shareholder of Rocca Salimbeni with 4%, which has not yet decided how to behave during the recapitalization (yet another) Institute of Siena. “The assessment of the increase – admitted on the sidelines of the Ambrosetti workshop Economy Minister Pier Carlo Padoan – is complex. When will all the details, we will decide. “

Do not know how to get on, the ministry of Via XX Settembre. And leave the hot potato in the hands of leaders and to all those banks of the underwriting syndicate that are to accompany red bank appointment. As to the conversion into equity of the subordinated bond hypothesis (favorite street by lenders involved in the operation), Padoan has run limited to specify that “for the capital increase several options are open and that probably will live longer measures.”

Ideas still unclear at home Mps, with the CEO Fabrizio Viola (taken for safe-runner), who along with former President Alessandro Profumo can smile again because of the demand for storage, arrived in time record, filed by the Milan prosecutors who investigated for improper market manipulation and false accounting for the alleged representation of Alexandria and Santorini derivatives in 2011-2014 budgets.

MZ

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