Furthermore, the Court confirmed the correctness of the conduct of the Bank of Italy, on the grounds that “the Bank of Italy is required to verify not so much the current amount of the applicant’s own funds in relation to the entire planned acquisition, as the adequacy and practical feasibility of the proposed plan for capital strengthening, thereby making a forecast, with a high degree of technical discretion, in which its institutional functions are ultimately manifested”.
In view of the risks to price  BIS Review 34/2006  1  stability that had been identified in the economic analysis and confirmed by cross-checking with the monetary analysis, the Governing Council decided on 1 December to increase the key ECB interest rates by 25 basis points, after having kept them unchanged for two and a half years at the historically low level of 2%.