Tribune | 11/12/2009 

Interview by Tommaso Padoa-Schioppa published in Le Figaro on 11 December 2009. Only in French

L'ex-gouverneur de la Banque d'Italie et ex-membre de la Banque centrale européenne (BCE) salue le compromis trouvé par les ministres des Finances de l'Union européenne la semaine dernière.

LE FIGARO. - L'Europe a-t-elle trouvé, lors du dernier Ecofin, un bon compromis sur la supervision financière ?

Tommaso PADOA-SCHIOPPA. - Rappelons d'abord l'enjeu. Aujourd'hui, en matière de supervision européenne, il n'existe ni de «super», ni de «vision» : nulle part dans la zone euro, une autorité n'est capable d'avoir une vision globale et instantanée des risques portés par les quinze ou vingt plus grandes institutions financières européennes. C'est pourquoi tout ce qui va dans le sens d'une plus grande intégration de la supervision est à mes yeux une avancée. Dans ce contexte, le compromis trouvé par l'Ecofin la semaine dernière permet le progrès. Mais il ne le garantit pas. Le succès dépendra de l'impulsion politique qui sera donnée au nouveau système.

Read the interview on Le Figaro website.


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The author
Tommaso Padoa-Schioppa died on 18th December 2010 in Rome. He was 70 years old. He was President of Notre Europe and Chairman of Promontory Europe. He was appointed by Greek Prime Minister Counsel for issues related to management of the economic crisis and public debt in the financial system on August 3, 2010. He was Chairman of the Trustees of the IFRS Foundation & International Financial Reporting Standards. He was Italian Minister of Economy and Finance (2006-08) and Chairman of the Ministerial Committee of the International Monetary Fund (IMFC, 2007-2008). He was a former Chairman of the Trustees of the IASC Foundation (International Accounting Standard Committee, 2005-2006). In 1998-2005 he was member of the first Executive Board of the European Central Bank. Previously he was Chairman of Commissione Nazionale per le Società e la Borsa (CONSOB, 1997-98), Deputy Director General of the Banca d'Italia (1984-97) and Director General for Economic and Financial Affairs at the Commission of the European Communities (1979-83). He has been Joint Secretary to the Delors Committee (1988-89), Chairman of the Banking Advisory Committee of the EC (1988-91) , Chairman of the Basle Committee on Banking Supervision (1993-97) and Chairman of the Committee on Payment and Settlement Systems (2000-05). He graduated from the Luigi Bocconi University and has a M.Sc. from the Massachusetts Institute of Technology.