“The European Union supports the intentions of the Italian government to allow investors to demand compensation from the banks for possible improper sales of bonds, referring to past experiences in other EU countries with similar situations.” The spokesman said the Community executive, commenting on the announcement of the Prime Minister, Matteo Renzi, to propose arbitration by Consob, to the scandal of the failure of Banca Marche, Banca Etruria, and Carife CariChieti. The reference to past experiences is the case of Spain, which in 2013 resorted to this tool to repay bondholders, after losses due to the difficulties of Spanish banks.
But controversy remains strong banks on saving decree passed by the government, which has sancito- if you do not run for cover as the government is trying to do at this time with an amendment to the Law of Stability-loss savings hundreds of people who had given subordinated bonds with the four institutions failed. Today the prime minister admitted the urgent need to reform the entire banking system. The government is working to try to alleviate at least some of the losses, with the creation of a fund to a hundred million. The dossier is overseeing Brussels, who likes the idea of going through individual arbitrations that assess whether by banks have been sold securities in the form misleading, to determine which investors can enter the fund options. In as a judge could be called the Consob. What we can not admit, warns the European Union, is the direct reimbursement, would fall in this case because of state aid.
Its part, the Bank of Italy governor Visco ensure that issues related to the collapse of the banks, “the consider with a commitment that is most, doing the best and we are sure you did, and that you will report on this at all locations appointed, with all the wealth of detail required. “
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