Financial Insights That Matter
Italy’s finance minister Giancarlo Giorgetti on Friday defended the government’s right to vet banking deals using special “golden powers” under domestic law, adding this matter was not for European institutions to adjudicate.
“The law … foresees that the government assess the national interest, which is not the prerogative of the European Central Bank or (the European Commission’s) DG for Competition,” he told reporters on the sidelines of the IMF and World Bank spring meetings in Washington.
Italy has set conditions on UniCredit’s 
Ucg takeover bid for rival Banco BPM 
Myusing rules that are under scrutiny by the Commission and, according to sources, irking the ECB.
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