For the framework of consumer protection to be effective, it needs more than regulation alone. It must be complemented with supervision, enforcement, and financial education. Let me elaborate briefly on the approach of the Bank of Italy.
Another point that I would like to make in the context of restructuring is regarding the initial pricing of loans for infrastructure projects. Very often, we observe that the banks are willing to significantly pare down the interest rate charged on the loan post restructuring. Basic economic sense suggests that the pricing should mirror the risk in the loan.