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Latest Bancopoli Stories

2005-12-19 14:23:55

By Crispian Balmer ROME (Reuters) - Bank of Italy Governor Antonio Fazio resigned on Monday, finally succumbing to months of intense pressure over allegations of ill practice in a bank takeover scandal that has tarnished Italy's international image. Italian politicians and business leaders heaved a collective sigh of relief at the news, which came just as the government was preparing legislation aimed at forcing Fazio from office. The Bank of Italy said Fazio's resignation would be...

2005-12-19 12:38:29

ROME (Reuters) - Bank of Italy Governor Antonio Fazio resigned on Monday, succumbing to months of intense pressure after he was mired in a bank takeover scandal that has bruised Italy's international image. The Bank of Italy said in a statement Fazio had decided to stand down in an effort to help the central bank and Italy itself to emerge from the turmoil. "The decision, made autonomously with a clear conscience, was taken to restore calm, in the greater interest of the country and...

2005-10-10 09:13:07

By Valentina Consiglio and Rachel Sanderson ROME (Reuters) - Bank of Italy Governor Antonio Fazio was questioned for five hours on Monday by magistrates investigating a bank takeover scandal that has prompted calls for his resignation and tainted Italy's image. Fazio's court appearance took the affair to a new level, putting it in the hands of the judiciary after Italy's politicians appeared to have lost interest because of their inability to oust him. Communications Minister Mario...

2005-10-10 08:22:05

By Valentina Consiglio ROME (Reuters) - Bank of Italy Governor Antonio Fazio was questioned on Monday by magistrates investigating a bank takeover scandal that has prompted calls for his resignation and tainted Italy's image. Fazio's court appearance has taken the affair to a new level, putting it in the hands of the judiciary after Italy's politicians appeared to have lost interest because of their inability to oust him. Communications Minister Mario Landolfi reiterated on Monday...

2005-10-10 07:03:29

By Valentina Consiglio ROME (Reuters) - Bank of Italy Governor Antonio Fazio, under pressure to resign over a bank takeover battle, on Monday faced questions from magistrates investigating him for abuse of office. Fazio's arrival in court was the latest chapter in a three-month-long saga that many politicians and business leaders say has tarnished Italy's image. The court appearance has taken the Fazio affair to a new level because the magistrates' decision on whether they believe...

2005-10-09 20:18:37

By Crispian Balmer ROME (Reuters) - Bank of Italy Governor Antonio Fazio will be questioned on Monday by magistrates investigating him for abuse of office in a bank takeover battle, a legal source said. Fazio was placed under official investigation in August over accusations that he was unfairly biased in favor of an Italian bank that was bidding against a Dutch competitor for control of domestic lender Antonveneta. Fazio has denied any wrongdoing and resisted calls from across the...

2005-09-29 13:58:17

By Tiziana Barghini and Gavin Jones ROME (Reuters) - Bank of Italy Governor Antonio Fazio has been put under criminal investigation in a takeover case, a judicial source said on Thursday after the banker won a vote of confidence from the only body that can fire him. Rome prosecutors have included Fazio among those under investigation for possible crimes in a cross-border banking takeover battle and will be questioned by two magistrates for suspected abuse of office, the judicial...

2005-09-25 10:54:01

By Phil Stewart and Francesca Landini ROME/WASHINGTON (Reuters) - Italy's government stripped Bank of Italy Governor Antonio Fazio of his authority to represent the country at a World Bank meeting on Sunday, piling pressure on him to resign over a takeover scandal. Economy Minister Giulio Tremonti, a longstanding adversary of Fazio, told the central banker in a tense phone call on Saturday that he would not lead Italy's delegation to the World Bank Development Committee meeting,...

2005-09-23 13:10:02

By Francesca Landini WASHINGTON (Reuters) - Italy's new economy minister on Friday used his first public comments in office to poke fun at central bank governor Antonio Fazio, who has spurned a demand from Prime Minister Silvio Berlusconi to quit. Economy Minister Giulio Tremonti was attending meetings of the Group of Seven and the International Monetary Fund in Washington with his long-time adversary Fazio, as commentators warned Italy's credibility was plumbing new lows. The...

2005-09-23 12:22:33

By Francesca Landini WASHINGTON (Reuters) - Italy's new economy minister on Friday used his first public comments in office to poke fun at central bank governor Antonio Fazio, who has spurned a demand from Prime Minister Silvio Berlusconi to quit. Economy Minister Giulio Tremonti was attending meetings of the Group of Seven and the International Monetary Fund in Washington with his long-time adversary Fazio, as commentators warned Italy's credibility was plumbing new lows. The...


Word of the Day
barratry
  • The offense of persistently instigating lawsuits, typically groundless ones.
  • An unlawful breach of duty on the part of a ship's master or crew resulting in injury to the ship's owner.
  • Sale or purchase of positions in church or state.
This word ultimately comes from the Old French word 'barater,' to cheat.
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