Speech by the PSD Secretary Gerardo Giovagnoli on Varano
“The trial of Delta, and therefore of Cassa di Risparmio, goes back to where it started, twelve years ago. Everything needs to be redone: the charges were unjustified and must be reformulated. Delta commissioner and its dismantling have produced damages for over a billion to Cassa and over 800 million euros in public interventions. ” Investigation in which the precise facts and those of the system that caused the banking disasters are well described: that of Delta, a colossal investment by Cassa in Italy, produced the largest hole for the state coffers. of the Forlì prosecutor’s office was disproportionate and unjust, given the non-definitive nature of none of the protagonists indicated and arrested in 2009, including the San Marino top management of the Cassa. It is now possible to analyze the possibilities linked to compensation actions, in particular linked to the payment of taxes in Italy justified by the criminal action. Above all, now the identification of a different banking and financial model must be placed at the center of attention, taking advantage of the simultaneous opportunity of the conclusion of the works of the Commission of Inquiry and the news on Delta referred to above. San Marino has made a big effort in the last year to adapt to international rules, we comply with the best standards on transparency, the cost has been high, but we now have no element of this product and it depends largely on the framework in which San Marino is registered. : that of a country that is no longer offshore, that of a country that is isolated, that is not part of the EU, is not part of the European Economic Area, and yet is within it. Not only is it isolated, from a banking point of view it is sealed: no investment or external affiliation of our four banks (apart from the only case of Banka Kovanica in Croatia, finally in profit under the management of Dr. Ceccaroli), no shareholdings of Italian or even non-Italian banks in the Republic. With a more unique than rare case now, the most important banking institution in the country under the total control of the state. I think that this series of conditions must be overcome and we must start again from where we arrived in 2016 before the direct management of the Central Bank; it is necessary to restart from an agreement with Italy, more specific with Bank of Italy, it is also useful to restart from an agreement with the European Association Agreement. As with all the other small European states we deal with (Andorra, Monaco, Liechtenstein), the clear relationship in relations or shared supervision of the banking system is an essential element. As always, the PSD draws attention to the need to be framed within the single European market, which would protect us (and would have messorebbe) from external attacks, an area not only of rules, but also of European opportunities, which would finally allow a recovery in the development of the banking system, which for ten years has only been defending and downsizing itself. The judicial facts described above must have a usefulness in this sense, as must have a useful conclusion to the season of the commissions of inquiry on banks and an end to the season of divisions and cross accusations for those who have more or less guilt, which has produced only the removal from the pursuit of the common good ”
Cs Gerardo Giovagnoli
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