“We believe the repercussions for the Italian banking system are insignificant.” This is the opinion of Giancarlo Giorgetti, Minister of the Economy, questioned after the rescue of Credit Suisse on the sidelines of an Intesa Sanpaolo event in Milan.
At the same time, Giorgetti underlined that the increase in interest rates by the ECB “must be calibrated very carefully because raising rates is useful for taming inflation, but it can cause some problems for financial stability”.
Just today, during her hearing before the Economic and Monetary Affairs Committee of the European Parliament, Christine Lagarde affirmed that the ECB, of which she is president, is ready “to respond if necessary to preserve price stability and financial stability in the euro area.”