The Government ‘blesses’ the Superpopolare – Il Sole 24 Ore

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This article was published March 19, 2016 at 08:08 hours.
the last change is the March 19, 2016 at 10:11.

the satisfaction of Economy Minister Pier Carlo Padoan, is full and formal for the merger between the People’s Bank of Milan and Banco Popolare. A black mass satisfaction on white in a statement that the Treasury issued yesterday at 18.40, shortly after the anticipation that had arrived from Brussels directly by the Prime Minister, Matteo Renzi. “In a few minutes will be out a statement of the finance minister that I share,” the premier said responding to a question on the merger between the two great popular in Milan and Verona at the press conference post-summit. And timely note came short ride. The minister – it says – is informed determining the BPM management and Banco Popolare to proceed in the merger with the satisfaction of all the requirements set by the ECB for the “all clear.”
Later in the day the Minister had made contact with all parties involved in the deal. He heard the shareholders of the two institutions, in addition to managing directors Giuseppe Castagna BPM and Pier Francesco Saviotti Banco. And then the trade unions, to ensure that, in fact, on the merger had coagulated maximum possible consensus. In yesterday Padoan informal contacts have also heard the Bank of Italy and then kicked off the MEF note, which is not an omen for a solution still to be closed but intake worded note to express the full appreciation of a ‘ transaction that could “be born a larger and stronger bank, able to face the market under the new European standards of the sector and therefore able to deliver more resources to enterprises in a season in which the financing of investments is crucial to the revival economy ‘.

Padoan has not overlooked a connection underscore this big operation with the cooperative banking reform launched by the Government by decree no. 3 January 2015. “This is the first merger in the segment of banks after the launch of the decree – the statement – which has already had the effect of certain processing operations into a limited company and starting the process of listing of some institutions “.
in Brussels, at the press conference which followed the European Council, Prime Minister devoted a large space to what he has termed” the banking issue. ” A matter that “it is not as serious as in other countries – he said – but that has margins and critical issues.” The problems are not as bad loans, the long crisis legacy, but the number of banks and bankers, was the reasoning. 2016 is the year in which Italy must “finally fix its banking question” then announced Renzi, emphasizing the commitment with which the Government is tackling all open files. “We – he explained – we’re working on for some weeks, belly to the ground, every single day, to have a solution that respects the European rules that we did not want us, but that we must respect. A solution that gives security to depositors, may give assurance to lenders: jump seats, there will be fewer bankers and prospective less bank because they can not be 300 thousand bank, with technological innovation so many people use the bank on the phone. There will be some branch less, but with respect for people without massive layoffs. We work to have a final solution, there are conditions and must be helped to the integration processes and fusion. “

The statements by the President of the Council came on the day of the first “green light” from the Commission of Deputies Finance to the latest banking decree (no. 18 of 14 February) that launches the reform of the cooperative credit system and activates the public guarantee for securitisations of non-performing loans. The text will be in the House on Monday, where it will likely be approved by the vote of confidence and then move to the Senate.
Nothing new, however, on the warm front, namely that of the claims subordinate to bondholders were impressed by the resolution November of the four banks in crisis (Banca Marche, Banca Etruria, CariFerrara and CariChieti). According to agency sources confirmed the two measures not expected to kick off to arbitration, a ministerial decree and a decree of the Prime Minister, may arrive after the deadline of 30 March, required by law Stability.

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