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[Antonio Fazio] was forced from his lifetime appointment amid accusations that he tried to block Dutch bank ABN Amro Holding NV from taking over the Padua-based Banca Antonveneta in a particularly dark chapter in Italian finance.

Rome, 31 May: Bank of Italy Governor Antonio Fazio today called on the government to adopt a more resolute economic policy capable of adopting necessary structural reforms and giving a boost to productive activities. Tax reform, Fazio said, can only take place once public spending has been reduced while lower taxes will help both consumers and business which will have greater available funds for investment. Pension reform is necessary, he stressed, because Italy's current system \"will not be sustainable in the long run\" and thus \"there must be intervention which safeguards acquired rights as well as expectations of workers for the future\"...

Mar. 20--Spain's second-biggest bank, Banco Bilbao Vizcaya Argentaria (BBVA), was a step nearer to a E6.5bn ($8.6bn, 4.5bn) takeover of Italy's Banca Nazionale de Lavoro (BNL) this weekend, after claiming it had clearance from Italian authorities for the bid. On Friday, BBVA -- which already owns about 15 percent of its Italian target -- confirmed it planned to launch an all-share takeover for BNL, offering one BBVA share for five BNL shares.

REMEMBER Antonio Fazio? He was the former Governor of the Banca d'Italia, who resigned in 2005 after allegedly trying to scupper foreign banks taking over the Padua-based Banca Antonveneta. It eventually fell to ABN Amro, and Fazio denied any wrongdoing.

Calls for his resignation have been rising; an opinion poll published Tuesday by the daily Asahi Shimbun showed that 67 percent of Japanese said they thought [Fukui] should step down. The scandal comes as another major central bank, the Bank of Italy, is still trying to regroup after its longtime head, Antonio Fazio, resigned in December for allegedly accepting gifts worth $60,000 from the chief of a bank he was responsible for regulating. While the criticisms of Fukui are not nearly as serious, both scandals have called into question the fairness and openness of the two central banks. They have also underscored how precious credibility is for a central bank, and how hard it can be to restore once damaged. \"Central banks must be seen as having no bias,\" said Atsushi Nakajima, chief economist at the research arm of the Tokyo-based Mizuho Financial Group. \"Credibility and trust are essential for what they do, even more so than other institutions.\" Fukui has faced growing criticism since he told a parliamentary committee about his 1999 investment. The uproar has focused on the fact that Fukui held on to the investment even after he became central bank chief three years ago. This has raised questions about whether his holding of stocks posed a conflict of interest. The decisions he makes as central bank governor can influence interest rates and economic growth rates, and therefore stock prices.

Calls for his resignation have been rising; an opinion poll published Tuesday by the daily Asahi Shimbun showed that 67 percent of Japanese said they thought [Fukui] should step down. The scandal comes as another major central bank, the Bank of Italy, is still trying to regroup after its longtime head, Antonio Fazio, resigned in December for allegedly accepting gifts worth $60,000 from the chief of a bank he was responsible for regulating. While the criticisms of Fukui are not nearly as serious, both scandals have called into question the fairness and openness of the two central banks. They have also underscored how precious credibility is for a central bank, and how hard it can be to restore once damaged. \"Central banks must be seen as having no bias,\" said Atsushi Nakajima, chief economist at the research arm of the Tokyo-based Mizuho Financial Group. \"Credibility and trust are essential for what they do, even more so than other institutions.\" Fukui has faced growing criticism since he told a parliamentary committee about his 1999 investment.

ANTONIO Fazio, the governor of the Bank of Italy since 1993, has succumbed to overwhelming pressure and resigned, ending a six-month battle of wills that once again has brought Italy's embarrassing financial scandals into the open. The Bank of Italy said Mr Fazio had decided to stand down to help the central bank and Italy emerge from the turmoil caused by his controversial handling of foreign takeover bids for Italian banks. Italian Prime Minister Silvio Berlusconi said he had expected Mr Fazio to make \"a serious and responsible gesture\" by stepping down. He had no doubt about Mr Fazio's \"probity\" but, \"given the way the situation developed, I became convinced it was necessary for him to take a step back\".

BANK of Italy governor Antonio Fazio resigned yesterday, finally succumbing to months of intense pressure over allegations of ill practice in a bank takeover scandal that has tarnished Italy's international image. Fazio's position became untenable after it emerged last week that he was being investigated by Milan prosecutors for suspected insider trading as part of a wider probe into allegations of rampant fraud at Banca Popolare Italiana. Adding to the pressure, the European Central Bank raised questions over allegations Fazio, 69, received lavish gifts from Pop Lodi's former CEO, Gianpiero Fiorani, who was arrested last week on suspicion of embezzlement.

Dec. 31--A row has erupted between Italian Economy Minister Giulio Tremonti and central bank Governor Antonio Fazio over who knew what and when about the collapse of the Parmalat food group. Fazio attended a meeting at which Tremonti spoke in general about investor confidence in the corporate bond market after the collapse of the Cirio food group and, in particular, about the Parmalat case, Ministry sources told Dow Jones Newswires.

Italy's centre-left opposition yesterday snubbed Antonio Fazio, the central bank governor under investigation for suspected abuse of office, by walking out of a parliamentary hearing where he was speaking about Italy's 2006 budget. Then Giulio Tremonti, Mr [Domenico Siniscalco]'s replacement, humiliated Mr Fazio by impersonating him in front of reporters and stopping him from representing Italy at a World Bank meeting. Unlike the opposition, Italy's ruling centre-right is divided on whether Mr Fazio should resign. Government backbenchers stayed to hear him yesterday, but reached for justifications.