Italy seeks rule change on central bank boss’s tenure

Giulio Tremonti, the Italian economy minister, who called for an urgent reform in the way Italy’s financial markets are regulated, wants to block the unlimited tenure given to the governor and replace it with a fixed-term contract.

Tremonti is thought to have the backing of prime minister Silvio Berlusconi. Tremonti’s move is seen as an attempt to force Fazio to resign as a scapegoat over the lack of financial controls that led to the collapse of Italian dairy company Parmalat.

Italy is currently

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