Antonio Fazio

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Antonio Fazio (2000)

Antonio Fazio (born October 11, 1936 in Alvito , Frosinone province ) is a former president of the Italian central bank Banca d'Italia . He was appointed to this post for life in 1993 and was considered one of the most powerful men in Italy. On December 19, 2005, he had to resign in the wake of a bribery scandal and abuse of office .

criticism

Fazio was very controversial as head of the central bank. It was heavily criticized when thousands of small Italian savers lost several billion euros as a result of the fraudulent bankruptcies of Cirio and Parmalat as well as the national bankruptcy of Argentina . He came under fire especially when he tried to foreclose the ailing Italian banking market against takeovers by foreign competitors and thus the takeover of the Banca Antonveneta by ABN AMRO and the Banca Nazionale del Lavoro by the Spanish Banco Bilbao Vizcaya Argentaria (BBVA) prevent. While abusing his position, he encouraged and supported the much smaller Banca Popolare di Lodi and the insurer Unipol in their competing takeover bid. This led to a widespread banking scandal that led to the arrest of several people involved, including Gianpiero Fiorani (then head of Banca Popolare di Lodi ), Giovanni Consorte (then head of Unipol ) and Emilio Gnutti , Danilo Coppola and Stefano Ricucci (financiers with funds unexplained Origin).

Condemnation

In May 2011, Fazio was sentenced to four years' imprisonment by a court in Milan in the first instance. He also has to pay a fine of 1.5 million euros and is not allowed to hold public office for four years. He must now hope that the proceedings against him will expire before they reach the third instance.

Individual evidence

  1. ^ Spiegel online: Italy's central bank chief resigns
  2. Die Zeit online: Four friends, that's us
  3. Four years imprisonment for Italy's former central bank chief Fazio in: Tages-Anzeiger from May 28, 2011
  4. ^ Antonio Fazio 75 years old , FAZ, October 16, 2011, p. 16