The governor of her Bank ItalyIgnacio Visco, speaking today before the economic affairs committee of the Italian Parliament, emphasized that “the banking crisis of the last few days was a “bell” that rang for Europe as well».
“In case banking crisis in Europethere are no tools for immediate intervention, as happened in the United States,” Visco added.
The most important lesson of the past few days is that the control and surveillance system may have some problems, but in the United States the necessary interventions are made immediately. Which is, for sure, vital. I believe that if we in Europe were facing such a crisis, there would be nothing similar for small and medium-sized banks”, stressed the governor of the Bank of Italy.
Regarding the future of Italy’s and Europe’s fiscal situation, Ignazio Visco stated that he cannot make long-term predictions, but that “believes that if the price of natural gas remains at current levels, things – including inflation – will go in the right direction».
Source: News Beast
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