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Bloomberg
The Bank of Italy’s second-highest official is said to have told staff that he won’t be available for a new term, according to two people familiar with the situation, a further development in the tense relations between the central bank and the populist government.
Director General Salvatore Rossi told staff in a letter that he will leave as soon as a replacement is found, and at
the latest on May 9 when his term expires.
He won’t seek a new mandate for the job and as head of insurers’ supervisory body IVASS, said the people, who asked not to be named, citing the internal document. The contents of the letter were earlier reported by Italian news agency Ansa.
Last month, Deputy Premier Luigi Di Maio and other Five Star Movement ministers forced the cabinet to postpone a decision on renewing the term of the central bank’s deputy director general, Luigi Federico Signorini. Di Maio and fellow deputy premier and League leader Matteo Salvini repeatedly critici-
sed the institute’s record on banking supervision.