4 On this occasion, I will confine my remarks to some of the most widely debated aspects that require clarification. The Banca delle Marche group had a number of weaknesses, mainly stemming from its governance and control structures and poor credit quality. These problems emerged more clearly from the three inspections conducted in rapid succession in 2010 and 2011.
In this situation, private consumption is likely to pick up again gradually and, together with a rise in demand for reconstruction, this is likely to accelerate the pace of recovery in the second half of fiscal 2011. In fiscal 2012, demand for reconstruction is likely to remain high, while overseas economies, especially emerging and commodity-exporting economies, are likely to continue growing steadily.