Back seat

Mario Draghi has joined the Bank of Italy from Goldman Sachs – a bank that is well known for managing conflicts of interest. And guess what? He’s brought a conflict with him. How he manages it is important not only for his own reputation, but that of his new employer. The first big task Draghi faces on arrival is whether or not finally to approve Unipol’s bid for Banca Nazionale del Lavoro. This long-awaited decision will be closely watched in the wake of the Antonveneta scandal. Unless the ban...