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Fazio's failings

16 January 2004 By Hugo Dixon

The finance minister has blamed Fazio for failing to spot the scandal something disputed by a person close to the central bank governor. Power politics is partly behind the row; and the government hardly has a shining track record for cracking down on fraud. But just because the motives of Fazio s critics may be suspect doesn t mean he has done a good job regulating Italian finance.

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