The new banking crisis in Italy is also of concern to the judiciary. The consumer protection association Codacons has filed a lawsuit against the central bank with the public prosecutors in Bari and Rome. The latter is accused of failing to fulfill its supervisory duties at the Volksbank von Bari (BPB), which now has to be saved by the government.
Codacons called on the public prosecutors to intervene with the central bank so that the names of the people and companies who received loans from the Volksbank could be published. The money house is said to have given loans to dubious customers and apparently violated several regulations. The institute had got into trouble because of its mountain of bad credit. The Italian central bank had placed the largest lender in southern Italy under special administration on Friday.
„No mercy for managers“
The government in Rome also wants to check whether the central bank has not fulfilled its supervisory duties in the case of the “Banca popolare di Bari”. “We will protect the small savers and act against the managers who are responsible for this situation. The government is saving investors‘ savings, but will have no mercy for the managers, „said Luigi Di Maio, the head of the strongest Italian government party“ Five Stars „.
The Italian government issued an emergency ordinance last night to save the Volksbank and provided grants of up to EUR 900 million. The government affirmed that everything will be done to protect savers. The Ministry of Economic Affairs is to loosen the funds to save the bank. The measures contained in the emergency regulation are also intended to promote the banks in southern Italy.
