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Bank of Italy’s autonomy not under attack: ECB’s Visco

Bank of Italy's autonomy not under attack: ECB's Visco© Reuters. The Bank of Italy building is seen downtown Milan

MILAN (Reuters) – Bank of Italy Governor Ignazio Visco said on Wednesday he did not think the bank’s autonomy was under attack, but added that there was confusion about where responsibilities lay.

“I don’t see any attack to its autonomy, but rather a vision which is sometimes uncertain about responsibilities. And I agree that independence and lack of responsibility cannot go together,” said Visco, who sits on the European Central Bank governing council.

Italy’s populist leaders kicked up a stir at the weekend when they vowed to replace top officials at the central bank, who they said must pay for failing to prevent a spate of banking scandals in which thousands lost their savings.

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Source: Investing.com

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