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The Bank of Italy. 3 December 2002,     Siena The Bank of Italy has lost much of its power regarding the European monetary policy since the introduction of the Euro. Nevertheless, the Bank of Italy has retained its power in Italy of controlling the italian banks. The bank of Italy has overseen recent banking fusions, for example IntesaBCI and Unicredit. In these days, differing points of view have come forth between the Bank of Italy and Mediobanca. Governor Fazio, head of the Bank of Italy, has recently produced documents regarding the italian economic system, suggesting the need for competition and reform. President Ciampi has also shown alarm for Italy loss of competitiveness in the world market. We wonder if these people, who have been in power for many years, and represent the Establishment, will be capable of reforming themselves. TO HOME PAGE The New Era Solveig Edizioni