Watchdog can't replace saver decisions - Visco

(ANSA) - Rome, March 30 - Bank of Italy Governor Ignazio Visco said Thursday that the financial watchdogs cannot take the place of sound judgment by savers when making investments. "The watchdog cannot replace the saver in the decisions they are called on to make to allocate their wealth," Visco said.
    "Financial education is an essential component of saver-protection policies". He added that the oversight authorities can minimize the risk of banks going into crisis but cannot completely prevent it.