Giuseppe Guzzetti, president of
the Italian Association of Savings Banks and Foundations (ACRI),
on Thursday said that the low number of investors in the
state-organised Atlante fund puts at risk the fund's goal "of
being not only a tool to govern some emergencies but rather an
intervention to create a true market for deteriorated credit".
The fund was set up with the Cariplo Foundation, of which
Guzzetti is president, and Quaestio capital management firm, in
a bid to shore up ailing Italian lenders.
On Wednesday Guzzetti said he regretted investing in Atlante
and that foreign banks should have contributed more.
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