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.
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