Hello and good afternoon by Giulio Centemero on giuliocentemero.com. I’m still in Tuscany with my family and you? Where are you spending August?
During the past week, thanks to sources of the Ministry of Economy and Finance, I got to know that an important article of the so called August Decree was going to be canceled. Former article 67 was granting Consob the same powers of surveillance of the British FCA or the Spanish CNMV, therefore filling up a regulatory gap and harmonizing Italy with the rest of the European Markets. After making some noise fortunately the article was reinserted as article 75 of the same decree. Even if we are at the opposition we can work for the Country, this is why democracy is important. Unfortunately the Financial Sector in Italy is jeopardized by many asymmetries if compared to European and global markets, asymmetries that must be adjusted to create an efficient environment. We are working towards that direction.