The president of Italy's
anti-corruption authority (ANAC) Raffaele Cantone on Thursday
said decrees that will govern compensation to victims of four
failed banks rescued by a government decree last November are
ready, but that political problems remained.
"The text is complete, it needs to be checked over but I
believe it is ready. There are political more than technical
problems that still need to be resolved," Cantone said on the
sidelines of the inauguration of the Atate Audit Court's
judicial year.
ANAC was tasked in December with holding the arbitration in
the cases of small investors in Banca Etruria, Banca delle
Marche, Cassa di Risparmio della Provincia di Chieti
(CariChieti) and Cassa di Risparmio di Ferrara (CariFe), after a
3.6-billion-euro rescue financed by healthy Italian banks saved
jobs and protected account holders but left shares and bonds in
the four lenders worthless.
One of Banca Etruria's former bondholders committed suicide
after his life savings went up in smoke.
In January Cantone announced that decrees governing
compensation would be ready by the end of the month, with the
economy ministry working on the criteria, and ANAC
concentrating on how to organize the arbitration.
The elderly and those who lost the most will get preference
in arbitration, according to details of the draft decree
reported at that time.
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