Thursday, December 17, 2015

Banks, Renzi surprise: Canton manage arbitrations – Il Sole 24 Ore

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This article was published on Dec. 17, 2015 at 13:22.
The last change is the December 17, 2015 at 13:33.

The Anac, headed by Raffaele Cantone manage arbitrations for secondary bondholders affected by the collapse of 4 banks (Banca delle Marche, the Savings Bank of Ferrara, and CariChieti Popolare Etruria). The announcement was a surprise to the Prime Minister Matteo Renzi TG5, which announced: “The arbitration will be managed by a third party, the ANAC, chaired by State. In the coming hours we will do everything possible because people who have been cheated can have the money. For my part there is the intention to do the utmost transparency and clarity, there will be the maximum penalty. “

Referee chosen by the government
Among the amendments approved Chamber to define the future Solidarity Fund from 100 million in favor of those who have invested in subordinated notes of 4 banks in default, the Arbitration “case by case” put the first milestones and initiated the process to define the rules . It provides that ‘by the President of the Council, on a proposal of the Minister of Economy, heard the Ministry of Justice and after consideration by the Council of Ministers may be appointed arbitrators, chosen from persons of proven impartiality, independence, professionalism and integrity, or may be the methods by appointment, as well as the functioning of the arbitration. ”

Renzi: with M5S institutional agreement on the View
After the agreement with the M5S View, commenting on the possibility of new agreements in Parliament, Renzi said: “It is an institutional arrangement by which we elect three high-profile people. We are always available to talk, you can not block the parliament. It’s time to do things, to give a signal to the citizens. ”

“Where are the moderates? Lose votes dial Brunetta “
As for dialogue jumped with the center, the prime minister said:” We must understand if we are still in the moderate center. Yesterday the leader of Forza Italy has said things offensive and insulting. Rather than discuss the places you would agree if they do not choose the line demagogic and extremist yell all but losing votes, we are always ready to have a dialogue, understood as an alternative. It all depends on Forza Italy “.

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