Journey to Basel II The simplified approach of Basel I has been successful in boosting capital levels in the global banking system from what were considered uncomfortably low levels throughout the late 1970s and early 1980s.
As for Italy, the election took place very recently. There are political discussions going on right now, and it’s not for me to comment on political discussions...  No, but could this instability slow down the normalisation of monetary policy that you want to implement? No, we conduct monetary policy for the euro area, not for a particular country.