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.
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