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Supervision of the struggling institution by the Bank of Italy while Mario Draghi, European Central Bank president, was governor has come under attack as an increasingly fierce political outcry erupts in the run-up to national elections next month.
Among the most vocal critics of the central bank, which traditionally has oversight of the Italian banking system, was Mr Draghi’s long-time rival Giulio Tremonti, the former finance minister who is again running for office on February 25 for the centre-right. “In this specific case it is strange that the supervision was not preventive", Tremonti said.
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