Decree banks, M5S attack: “constitutional violations” – The Daily

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For now it’s just a draft . But that has already grossed membership of the opposition and the left Democratic Party. Stefano Fassina and Goofy Civati ​​ have already expressed support. It contains a list of investigations long and detailed. But in fact, the ‘finding investigation request to the chairman of the Finance Committee of the House, Capezzone, Daniele Pesco (leader) of the Movement 5 Stars, focuses on the effects of a single action : the controversial Decree Law launched by the government of Matteo Renzi that provides for the transformation into joint-stock banks Popular with assets of at least 8 billion euro.

ANALYSIS AND CONFLICT – A decree against which the deputies grillini are questioning firstly the same choice of equity threshold (the 8 billion in fact). Asking to extend the effective verification ‘supply of credit to small and medium enterprises and households “by Popular, all’ ‘possible existence of regulatory violations or regulations in the limitation of the withdrawal by the shareholders’ and to ” analysis results of Asset Quality Review (AQR) “- that is, the quality review of the Active promoted by ECB to check the soundness of the major European banks – used by the government to justify “the introduction of the limit” of the 8 billion. Not only. Continuing the theme of AQR, Pesco asks that the investigation is being extended to the examination of “ any conflicts of interest in audit firm and banks that participated in” the revision itself. In addition to the real capacity of the Popular ‘to raise capital in the market’ and to ” impact that would have on the country possible position against the Constitutional Court “to the decree adopted by the government.

PAPER VIOLATED – Decree that according grillini, would have several profiles of dubious constitutionality . Including that related art. 45 of the Charter which recognizes the social function of cooperation character mutuality and without purposes of private speculation. ‘The Government instead recognizes speculation private forcing a cooperative form to turn into spa’, accuses Alessio Villarosa Movement. In short, should be “in the opposite direction” to the spirit of the constitutional provision. Then there is the knot of ‘ art. 41 on the freedom of private economic . “According to this reform, those who have freely decided to undertake an economic initiative, acquiring shares of a cooperative society, will overnight holding securities of a corporation – warns the leader of M5S in committee, Pesco – . Even more serious is the limitation of possibility of withdrawal or redemption of shares that does not allow the member to avoid an imposition. ” For full clarity on disputed points, grillini have proposed the ‘ hearing of different subjects Bank of Italy ; the Ministry of ‘ Economy ; Court of Auditors ; European Central Bank ; International Monetary Fund ; constitutionalists Cesare Mirabelli, Francesco Bassi, Michele Ainis, Giovanni Maria Flick Ferdinando Imposimato and in addition to Professor Leonardo Becchetti .

STOP GOVERNMENT – 5 Stars link to do justice of what they consider the government propaganda . Starting from the assumption that the reform increase credit to business and will be easier to raise new capital. On this last point, in particular, grillini point out that “the Popular may already recapitalize” and that “some have done so.” Not only that, they add, “the ten banks Popular already seven are listed”, but just based on the results of stress tests in Europe, those “which was required recapitalization have carried out immediately.”

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