He had been appointed Governor of the Bank of Italy by decree of the President of Italy Carlo Azeglio Ciampi at the end of 2005, at the culmination of a difficult period in the history of the Bank and of our financial system.
During these years, his efforts, including in the demanding role of Chairman of the Financial Stability Board, brought prestige to our own institution and strengthened its reputation both in Italy and abroad. His direction was essential for the formulation of European monetary policy, for our supervisory action and for the modernization of the Bank’s organization and method of operation.