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Reuters Breakingviews: Bank of Italy didn't push hard enough on MPS

Wednesday, Jan 30, 2013 - 03:35

The scandal at Italy’s third largest bank Monte dei Paschi threatens the Bank of Italy – and its former governor and current ECB chief Mario Draghi

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On today's breaking news this scandal that Italy's -- deep husky defense. But to engulf form of bank of -- -- -- -- and current ECB chief money -- drug eight. He had to tell us as much as they can -- banking columnist. Dominique Elliot -- camp out what does this exclusive 'cause on up and tunnel by documents -- -- -- -- was concerned about these complex. -- -- -- -- -- As local November 2009 -- over three years ago. Well I mean that's the whole thing it won't won't comes out of the bank of attendees defensive its actions is that. He did know about a lot of that stuff I mean the internal documents and it's. And yes -- actually don't sort of I mean that's not something necessary the bank of Italy knew about but. -- and it's exciting year in 2010 may 2010 there are real problems that -- yes. They took over a year or about a year for that to be a capital raising and and PS to address that line. Well that's a very good question I'm in the when lots of other problems going on of the time but if there was a capsule. Issue then then -- you know. Absolutely and yes needs to raise capital -- taken a state -- in 2009. The fighting between defense in this -- to my. Untrained eyes -- west seems to flip between yes they were aware of concerns and based on the -- nobody -- to top that. From that suit well we -- and two -- of all the -- information was being kept from us in the count Hubble space can. Well you know I think the current governor of -- back -- it's me he's saying that it's you know and then that job is not to you and spikes yes is to supervise them but -- made it. That's gotta be some way in between -- can really implement change. Of course the -- -- government -- was money on Friday -- who's deeply implicated. Is he in this last Ryan minor -- he was -- until about ten to 2011 -- he was that right over this period. And I think that in less we get a little bit more from the bank of Italy in terms of why. They did not seen in some of these cases. The miner tracking well that certainly be a disgrace so silence. Not doing him any favors resign I think he needs to come up and say something and how might. Help his case but then again by coming out and that's speaking about this case that. And -- us was he just wants to keep as arms -- is best account. Well I suppose that's right I mean he's he's stuck in difficult place but he doesn't need to say something because of the palace. The spotlight was shifting him OK finally then I'm. But some broad question what next in this kind of well I think we still don't know everything that's that happens the word documents that would Hayden. But I think that the big thing is going to be in about mid February I think it's February the tenth more or less that. That bank have as -- -- kind of multitasking will. Come out with. Its own review of what's happened not to give a salute to the juicy details just finally you mentioned documents what has -- -- those who -- kept us safe. And this electronic age of emails and you know alive -- people still hiding documents and tapes when it does read like something out of it Don Brown threat or something doesn't and I know I. I mean it's. It it does sound a bit strange. And I think if people need to hide things there'll still way isn't it much more to come -- -- -- -- thank you very much I would like to keep making -- banking communes. -- -- -- -- And tomorrow agenda setting financial insight what you US picking you shall every day twelfth -- east on seventeenth -- GMT. I'm Jane and give up this a -- of.

Reuters Breakingviews: Bank of Italy didn't push hard enough on MPS

Wednesday, Jan 30, 2013 - 03:35

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