Panetta in Bank of Italy forces Meloni to take a bath in reality

Fabio Panetta, 63 years old from Rome, will be (barring improbable surprises today) the new governor of the Bank of Italy. He succeeds Ignazio Visco who, at the end of a second mandate, cannot be reconfirmed. This in itself is important news, even if for some time now there had been very little suspense: Panetta appeared as the “predestined”. The real unknown concerns who will replace him on the executive committee of the European Central Bank and, above all, whether he will be another Italian. According to one school of thought, the choice is premature. Not so much because Visco expires on October 31st (it is tradition that the appointment takes place in advance and it is also a good rule that puts an end to coffee talk and ultimately harmful controversies).