January 18, 2013
Sir, Lorenzo Bini Smaghi gives a lot of good recommendations in “Italians deserve more than the same old politics” January 18.
But following all those would not suffice, unless Italy immediately stops following what the Basel Committee predicates in terms of subsidizing “The Infallible” and taxing “The Risky”, and which is precisely what their capital requirements for banks based on perceived risk does.
For Italy to “improve competitiveness and increase its growth potential” what it cannot do, is to make the access harder than needs be for their “risky” small businesses and entrepreneurs.
That of course goes for all other Basel bank regulation countries too!