March 29, 2019 / 11:31 AM / 21 days ago

Don't meddle with central bank's role, Italy president warns parties

FILE PHOTO: President of Italy Sergio Mattarella arrives to the Arraiolos Group meeting at Rundale Palace, Latvia, September 13, 2018. REUTERS/Ints Kalnins

ROME (Reuters) - President Sergio Mattarella on Friday warned Italy’s ruling coalition not to interfere with the independent role of the Italian and European Central Banks.

The ruling League and 5-Star Movement plan to set up a parliamentary commission to look into possible failings of oversight by the Bank of Italy which they say led to the collapse of numerous Italian banks.

Mattarella issued a statement warning that the commission must not “overlap”, or attempt to reduce the independence of the Bank of Italy, the ECB or other market supervisory agencies.

Reporting By Gavin Jones; editing by Giselda Vagnoni

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