Consob, President Savona: « If not liked I’m ready to leave »

“I’m always ready to leave. At a certain point, when I am no longer liked I go away in all institutions. Until I’m liked I stay, when I’m no longer liked I go away. I am such an age that wisdom looms. All this means that when one is wise, he must go to these conditions ». The president of Consob said it, Paolo Savonaon the sidelines of the intervention on the second day of the Trento Economy Festival.

The decision on the Unicredit ops

In Savona he had been asked to comment on the criticisms received by some political exponents and an alleged irritation of the government after the resolution taken by the Authority that Unicredit’s Oops suspended for 30 days on Banco Bpm. Savona also added: « I am such an age that wisdom looms, it means that one when it is wise if it devoid of these conditions ». Compared to the decision taken on the offer of Unicredit for Banco Bpm, Savona has specified that « Consob is a collegial body that works with the offices, from the legal to that of the issuers and the transparency of the market, the result was, therefore, the sum of all these reflections ». As for the merit of the decision, Savona stressed that « Consob applied the law. In the provision there are a series of « visa » and a « considered ». The consideration is that at some point in a situation of uncertainty the market is unable to decide and therefore we give the time to clarify. Our task – he added – is to protect savers and transparency, to make them take the right and rational choices. With uncertainty there is a need for more time ».