Credit Suisse: 'insignificant' impact on Italy-Giorgetti

(ANSA) - ROME, MAR 20 - Economy Minister Giancarlo Giorgetti said Monday that he believes the impact of the crisis at Switzerland's Credit Suisse on Italy's banking system would be "insignificant".
    "It seems that the markets have calmed down a bit," he added on the fringes of a Intesa Sanpaolo event in Milano, referring to the market turbulence linked to Credit Suisse and, before that, to the collapse of the Silicon Valley Bank in the United States.
    "I think that the situation in Europe is under control.
    "We are in constant contact with the regulatory authorities and we are tranquil about the Italian banking system". Giorgetti also reiterated his criticism of the European Central Bank's policy of hiking up interest rates to combat high levels of inflation.
    "(The policy) should be calibrated with great care because increasing interest rates might be useful to control inflation, but it can also cause problems for financial stability," he said. (ANSA).