Thursday, August 18, 2005

Fazio should get a clue

Good news: surprisingly, pressure on Fazio to resign does not seem to be easing.
The president of Italy's powerful business lobby said Wednesday that the embattled governor of the Bank of Italy should resign following revelations of his involvement in a bank takeover bid under investigation by prosecutors.
Luca Cordero di Montezemolo, the president of Confindustria, made the remarks during an evening public conference in this mountain resort in Italy's Dolomites.
"Yes, I think Antonio Fazio should have resigned, because when you undermine so strongly the credibility and impartiality of the system, you can't not take that into account," Montezemolo said.
Additionally, according to a recent poll, 81% of business leaders in Italy also think he should go. I am skeptical of any positive result, but maybe there is room for hope.

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