The bank crisis requires supervisison and punishment

Carlo Bastasin, assistant chief editor of the daily, considers "the ECB's reaction to the crisis that hit Wall Street yesterday was right and convincing. This was a choice that reassures the financial market while showing great stability in Europe. It also allows the ECB to gain clout in relation to the Fed [Central American bank]. ... It is this need for stability that should encourage the penalisation of the risky behaviour of BNP-Paribas, IKB or Banca Italease. There is an epidemic of financial products being sold to clients without informing them of the risks they involve. Not all banks are the same and this crisis an opportunity to distinguish between them. ... For BNP-Paribas, Paris is expected not to react. [The French] Jean-Claude Trichet [president of the  ECB] thus has an opportunity to show his autonomy by hitting the French bank that yesterday shook world finances."

» full article (external link, Italian)
More from the press review on the subject » EU Policy, » Consumers, » Europe, » North America, » U.S.