Italy’s Fazio To Stay?

Antonio Fazio, the Bank of Italy governor whose defiance in the face of criticism recently hit the international headlines and lead to some embarassing photos in Washington still refuses to go. Berlusconi seems almost resigned to the fact that he may stay:

Silvio Berlusconi, Italy’s prime minister, on Tuesday told parliament he had already done everything in his power to secure the resignation of Antonio Fazio….The government could not intervene directly, and so I did the only thing that could be done. I appealed to the governor, to his sensitivity and to his conscience, Mr Berlusconi said.

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About Edward Hugh

Edward 'the bonobo is a Catalan economist of British extraction. After being born, brought-up and educated in the United Kingdom, Edward subsequently settled in Barcelona where he has now lived for over 15 years. As a consequence Edward considers himself to be "Catalan by adoption". He has also to some extent been "adopted by Catalonia", since throughout the current economic crisis he has been a constant voice on TV, radio and in the press arguing in favor of the need for some kind of internal devaluation if Spain wants to stay inside the Euro. By inclination he is a macro economist, but his obsession with trying to understand the economic impact of demographic changes has often taken him far from home, off and away from the more tranquil and placid pastures of the dismal science, into the bracken and thicket of demography, anthropology, biology, sociology and systems theory. All of which has lead him to ask himself whether Thomas Wolfe was not in fact right when he asserted that the fact of the matter is "you can never go home again".