Home » Sensational: Europe wants to “cancel” Italian banks. The alarm

Sensational: Europe wants to “cancel” Italian banks. The alarm

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Sensational: Europe wants to “cancel” Italian banks.  The alarm

Europe wants to wipe out Italian banks. Sileoni’s alarm

The bomb arrived live on TV: we are playing the Italian banks. “The European Commission is analyzing a crazy proposal, that of propose regulatory changes aimed at removing existing supervisory obstacles for the creation of European banking entities and to enable them dimensionally and structurally to compete on equal terms with the American giants. It would be the end of Italian banks, Europe wants to cancel them. The Government must intervene to protect national interests which also involve the defense of our banks” said the general secretary of Fabi, Lando Maria Sileoni, during the program Mattino Cinque broadcast on Canale 5. “A situation of this type would also have repercussions on all banking customers. For this reason this proposal must be stopped” Sileoni added.

The leader of Fabi, the main union in the Italian banking sector, refers to a document from the European Union, specifically from the European Parliament, in which a series of regulatory proposals are put forward. The objective would be to remove obstacles to the creation of European banking entities. All this to allow a concentration between credit giants no longer, as has happened so far, within national borders, but on a European scale. A wide-ranging maneuver which would serve, according to Europe, to put the banks of the Old Continent capable of stopping any hostile takeovers by the American giants. In short, the expansion of banks, the EU report claims, must take place with Europe as its horizon.

A bombshell, that of the EU Parliament, which arrives while in Italy, in recent weeks, possible merger operations are being discussed, perhaps also to definitively resolve the issue of Monte dei Paschi di Siena. Who is most at risk within our borders? Are the majors of the Peninsula also in check, namely Intesa Sanpaolo, Unicredit, BancoBpm and Bper? It is difficult to make analytical predictions. On paper, all Italian banks become potential prey of European giants whose size and capitalization are significantly larger than the Italian players. Caution, therefore, when it comes to risks. PFor the same reason, it would be risky to make estimates about the impact on employment among the country’s bankers.

The topic, for now, is strictly political: there are significant national interests at stake. Without Italian banks, the country system is weaker. We need credit institutions that support our businesses, that ensure loans to families. Then there is the issue of savings: the financial wealth of families is worth (Fabi data) 5,200 billion euros, almost entirely managed and kept in Italian banks. Money that today is diverted to internal investments, but which could leave our borders if control of the big credit companies passed into foreign hands. Can we afford to lose resources worth double the public debt and almost triple our GDP? Does the government intend to do something?

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