Italy 'paralysed' after economy minister quits

Italy is today said to be “paralysed” after the economy minister resigned amid a standoff with the Bank of Italy chief.

Italy is today said to be “paralysed” after the economy minister resigned amid a standoff with the Bank of Italy chief.

Domenico Siniscalco resigned an unsuccessful attempt to oust central bank governor Antonio Fazio, who has been accused of discriminating against a Dutch bank in a takeover battle.

Siniscalco’s predecessor, Giulio Tremonti, who himself had been forced to resign the post a little over a year ago, has now been appointed to replace Siniscalco.

Siniscalco’s resignation came days before the Cabinet must approve its 2006 budget, and just a few months before general elections.

“The country is paralysed, and this worries us very much,” said the head of Italy’s powerful industrialists’ association, Luca Cordero di Montezemolo.

More in this section

Lunchtime
News Wrap

A lunchtime summary of content highlights on the Irish Examiner website. Delivered at 1pm each day.

Sign up
Revoiced
Newsletter

Our Covid-free newsletter brings together some of the best bits from irishexaminer.com, as chosen by our editor, direct to your inbox every Monday.

Sign up