Italians: how safe is your bank account? European rules require that the account holders could be forced to contribute with their money to safe their bank from failure.
Bank Italia ruler, Mr. Ignazio Visco, says today that, in his opinion, Italian account holders must be informed that they may be asked to contribute with their money in case the bank where they have their money deposited is failing.
The new European rules concerning the crisis management provide, in fact, that it will not be possible to save a bank from failure if not with the help of all the account holders.
Visco has explained the guidelines of the new rules and underlined the fact that Italy, in particular, incorporates the EU directives late. “The long time hinders the commitment and active participation of our country in the process of financial integration and can undermine our credibility”, he said.