Italy Set to Abolish Central Bank and Jail Corrupt Bankers

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Italian Deputy PM Matteo Salvini vows to eliminate central bank and jail corrupt bankers

Italy’s coalition government looks set to abolish the Italian Central bank and jail bankers involved in fraudulent activity. 

Italian Deputy Prime Minister Matteo Salvini announced the plan following Friday’s warning form Bank of America that predicts the greats threat to EPS – i.e., markets – in the next 3 years “is an acceleration of global populism via taxation, regulation & government intervention.” reports: Matteo Salvini, the outspoken head of the anti-immigrant League party, said the Bank of Italy and Consob, the country’s stock market regulator, should be “reduced to zero, more than changing one or two people, reduced to zero”, or in other words eliminated, and that “fraudsters” who inflicted losses on Italian savers should “end up in prison for a long time.”

As the FT notes, this latest broadside against Italy’s financial establishment comes as the two parties which are increasingly at odds with each other amid speculation Salvini may hold elections to become the sole leader of Italy, prepare to run against each other in the European parliamentary elections in May, a contest widely seen as a proxy for national polls. Meanwhile, both leaders have also increased their attacks against targets including the EU and French president Emmanuel Macron.

Confirming the rising animosity between the two coalition partners, the League and Five Star have openly squabbled over the future of an Alpine rail line and migration, while the two leaders’ repeated attacks against France which culminated with Di Maio meeting the leaders of the anti-Macron Yellow Vest moment, triggered a diplomatic crisis which last week saw Paris recall its ambassador from Rome.

Saturday’s latest verbal crackdown targeting of the Bank of Italy comes after central bankers issued more pessimistic economic growth forecasts for this year compared with the numbers underpinning the government’s budget. As we reported last month, Italy entered into a technical recession in the second half of 2018, with the Bank of Italy cutting its GDP forecast for 2019 to 0.6% compared with a 1% forecast made by the government. At the same time, the European Commission slashed Italy’s GDP forecast from 1.2% to a borderline recessionary 0.2% for the full year, hinting that Italy’s budget deficit forecast will not only be missed, but could re-emerge as a focal point of renewed tensions between Rome and Brussels in the coming months.

Meanwhile, ECB head Mario Draghi, an Italian and former former governor of the Bank of Italy, last year warned that central bank independence was under threat by populist governments, while not making a direct reference to Italy. Should Salvini cement his de facto Italian leadership in upcoming elections, it would make life for the local central bank especially complicated.

Separately, Di Maio and other Five Star ministers said they want to block Luigi Federico Signorini, the deputy director-general of the Bank of Italy, from renewing his term, according to La Repubblica. The newspaper reported that the Italian cabinet was divided on the issue.

As previously reported, in the latest anti-establishment shot across the bow, several days ago the government nominated Paolo Savona, a veteran economist and prominent Eurosceptic who had previously served as minister for European affairs, as the new president of Consob. Savona was last year been blocked as the coalition’s first choice as economy minister by Italian president Sergio Mattarella, following strong pressure from Brussels and a revolt in the Italian bond market.


  1. Best thing Salvini can do for his ppl/country! The satanic cabal is being destroyed more each day as the good peeps once again rise up and make their countries great again. God bless all these righteous leaders!

  2. Well its no use the central banks doing a ” debt for equity” deal…. the iti’s don’t have anything left of value…so basically the bankers are going to have to crash the world system… either that or a nuke has to be dropped on Russia or amewhorica…… this world needs to be pulled into line quickly while the bankers still have their “last” chance… you have to ask yourself…. is where I currently live going to be a “no go zone” in the near future…. and lets face it folks.. none of you have savings….. none of you have enough food.. none of you have guns or ammo… none of you have balls… basically… YOU ARE ALL FUCKED… lol….. you WERE warned.. many times.. Youtube…… its all over now baby blue Graham Bonnett

  3. I love these articles, Italy’s going to ban the bankers, Trump is going to challenge the federal reserve, Putin is banning the Rothschilds, etc, yet 2 months from now, nothing will have happened and again we will get an article about how Trump is going to challenge the federal reserve again. THERE ARE NEVER RESULTS, ITS ALWAYS ABOUT WHAT THERE GOING TO TOMOROW, AND WHAT THEY ARE GOING TO DO TOMOROW IS NOTHING!!! THEY ARE THE WOLVES, WE ARE THE MINDLESS GULLIBLE SHEEP

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