The reform of popular banks was born evil and is implemented worse – The Huffington Post

The doubts about the constitutionality of the reform of the popular banks raised by the members and the associations in these two years are the same, that from February 2015, brought some of us to emphasize, in Parliament and in public debate, as it was necessary to insert the reform of the system, necessary to make the order, in a more rigorous, marked by the disposal budget of the suffering and the consolidation of the banking system. I don’t know how many times in the past two years I have personally written by making public calls of various nature, after you have tried all ways in 2015 to integrate the reform with a minor part of the Pd, I did not vote. Among the other then I remember Stefano Fassina and Pippo Civati.

He wanted to insist, as always, without listening to not only the doubts of the opposition but also those of many members of the Pd and of the same majority, exposes all of us today and the same banking system to risk further chaos.

Now that the Council of State, detects the ‘non-manifest groundlessness of the questions of constitutional legitimacy by suspending partially the effectiveness of the circular appealed against by the Bank of Italy, increases the bitterness because all of this could be easily avoided. All we would need in such a delicate moment for the Country, except that of the yet another confirmation that listen to the reasons of others with greater humility serves to make it better complex reforms.

The limitation of the redemption of the shares object of withdrawal, and thresholds for transformation in the spa were and remain two issues very delicate on which the Parliament even in this last month, on the occasion of the tax decree, had had the opportunity to intervene but has not been possible because of the intransigence of the government.

The limitation in the case of withdrawal constructed in order to ensure that the heritage of precious of the institute (core tier 1) falls below the bar set by the Ecb, and the same obtuse and stupid the threshold of 8 billion for the transformation of the compulsory of the popular spa appeared from the first moment of the shortcuts to the Italian in order to seize the objectives that the market is not allowed to reach. But the shortcuts, as is well known, if you are not familiar with the topics and markets, often off the road or worse on winding roads and dangerous. The Constitution of the savings that leaves no room for any creative interpretation. The art. 47 speaks clearly, the savings must be protected in all its forms. And the first part of the Constitution for the luck of the italians will not be touched by anyone.

Now, however, is not the case of the dramatize; from Monday, it is also necessary on this issue and more generally on the banking policy to give clear answers to the markets, trying to have more humility in adjusting the many things that do not work. It is never too late to correct the errors. The hope is that at least 5 in the morning regardless of the outcome of the referendum the country’s problems, starting from the financial they can be addressed with rigor and seriousness, listening to the one who is not homologous to ignore.