The end of last year brought with it the conclusion of a convulsive period of scandal and speculation, during which it had seemed that the market, the savings of Italians, and the destiny of companies in key sectors of the national economy were prey to the caprice, self-interest and schemes of a few individuals. The action of the judiciary prevented these schemes from succeeding.
The outcome of the judicial proceedings now under way is awaited. Although the institutional integrity of its supervisory structure was unscathed, the Bank of Italy has been wounded.