The policy of high interest rates to deal with inflation decided by the ECB, which has sent the Eurotower's accounts into the red, also weighs on the balance sheet of the Bank of Italy which, however, thanks to the considerable funds accumulated according to "principles of prudence", still allows a net profit of 815 million euros. This was announced by the governor Fabio Panetta at the meeting of participants according to which the gross loss of 7.1 billion was covered by 5.6 billion from the general risk fund and 2.3 billion from the tax recovery.
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