The governor of the Bank of Italy, Ignazio Visco, speaking today before the economic affairs committee of the Italian parliament, emphasized that “the banking crisis of the last few days was a “bell” that also rang for Europe”.

“In the event of a banking crisis in Europe, there are no tools for immediate intervention, as happened in the United States,” Visco added.

“The most important lesson of the past few days is that the system of control and surveillance may have some problems, but in the United States the necessary interventions are done immediately. Which is, for sure, vital. I believe that if we in Europe were facing such a crisis, there would be nothing similar for small and medium-sized banks”, stressed the governor of the Bank of Italy.

Regarding the future of Italy’s and Europe’s fiscal situation, Ignazio Visco stated that he cannot make long-term predictions, but that “he thinks that if the price of natural gas remains at the current levels, things – and for the inflation – they will go in the right direction.”