They have not changed the law on crimes and bankers fear to end up inside
Despite promises from the government, money does not come to businesses. The explanation is given by the Governor of the Bank of Italy at the presentation of the 2019 Annual Report. The money does not come because the state guarantee is not enough, the legislation on crimes has not changed and the bankers fear to end up inside. Listen here: “In the absence of explicit regulatory provisions, banks that fail to assess creditworthiness expose themselves to the risk of committing crimes,” says Visco who explains: “Intermediaries are also required to carry out checks, as is right, provided for by anti-mafia and anti-money laundering legislation, which oversee significantly increased risks in the months of the emergency “.
To unlock the situation it will take weeks, if not months. Times that are punched with the needs of an emergency. “Some amendments aim to resolve or mitigate part of these problems; we have focused on them, and on some possible solutions, in the testimonies given before the parliamentary committees. I am confident that in the coming weeks, with the cooperation of all those involved, there will be decisive improvements in the flow of resources to the economy, “says Visco in the Bankitalia annual report in which, among other things, he defined the crisis in which we ended up with the pandemic as epochal. Forecasts speak of a collapse of GDP between 9 and 13 percent while the recession will hit low-income families harder.