“The Government asks for permission to refresh the policy objectives of public finance 2017. The update of the programme objectives may be necessary to adopt measures with the aim of protecting investors in the event you materialize risks in the financial system”. To say it is the minister of the Economy Pier Carlo Padoan, making his debut in the sala del Mappamondo di Montecitorio in front of the commissions financial statements the combined house and Senate. The hearing of today is a fulfilment provided by law 243/2012 for the implementation of the principle of a balanced budget: in the case of “exceptional events” that require variances, temporary by the objectives of the budget, the Government is obliged to inform the Chambers on the extent and duration of the scostamenteo and ask for a specific authorization.
Mps: from the translation of the bond expected to be a billion. In the course from weeks inspections Ecb
Possible one or more of the actions for the strengthening of the heritage
In these days of l’exceptional event is composed by the crisis in the banking sector in general and the Monte dei paschi di Siena in particular, to meet which the minister asks the green light to lend up to a maximum of 20 billion euros, “with a consequent increase of the financial requirements and of the net balance to be financed through issue of government securities”. The Government, adds Padoan, “is ready to adopt one or more measures” that will serve to ensure the “strengthening of the heritage” with the recapitalisation is to ensure an “adequate level of liquidity”.
Intervention, the precautionary measure to overcome the sufferings of capital
“The actual impact on the firm” will depend on the “type” of interventions that will be adopted, and from the entity of resources” that may be necessary. In some circumstances, stresses the minister, “to protect savings and maintain financial stability, it is possible an intervention of precaution”. Our system of credit has demonstrated his “estate, in general, facing a recession, long and deep” to reassure the minister, but some institutions “may not be able to fill on the market the sufferings of the capital, highlighted by the stress tests. From here, the request to the Parliament to authorize the deviation.
Popular in the veneto, Carige and cases local look to the State for increases
Brunette: ask for 20 billion that means a crack at the State budget
The call comes in via XX settembre elicits the immediate reaction of the deputy, blue Renato Brunetta. “How is it possible to show up here and with a few words asking for 20 billion?”, attacks the parent company of the Chamber of Forza Italia, who does not mince words and speaks of “irresponsible behaviour” of the Executive. “Just read 10 lines professor Padoan? She is talking to the Italian families, to investors, is talking to Europe. It is not serious”. And insists: ask for 20 billion “means a crack at the State budget”.
Fassina (IT): bill white, inadmissible
Contrarissimo Stefano Fassina, a member of the Italian Left, who rebels at the idea of “sign a promissory note in white of 20 billion”. The Government, is highly emotional, ” must now say how to use them, as intended to safeguard bondholders, such as the counterparts to the banks that will receive the funds. For us, that we are in favour of public intervention, a promissory note in white is inadmissible”. Before the minister goes on stage a real revolt of the opposition. Guido Guidesi of the League is the irony: “the Minister when he begins his audition? There is a minimum of institutional respect, she asks us delegation in the white”. Francesco Cariello (M5S, notes: "She is given no value added to the report that has already been delivered. A hearing has not yet taken place. Then mr. minister, you answer our questions, and then we make a rejoinder, having regard to the hearing of fact is not begun yet”.
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