The Panetta era begins at Bankitalia: all eyes on the first appointment to the directorate

It takes time for a new governor, destined for six or twelve years at the top, to leave his mark on the Bank of Italy. But a first choice of weight Fabio Panetta, who will succeed Ignazio Visco tomorrow, will take it almost immediately. The transfer of Piero Cipollone to the ECB executive, precisely the role left by Panetta, frees up one of the five positions in the directorate, the Via Nazionale body that takes decisions collegially and of which the governor is “first among equals ”.