Taxes on banks, Patuelli: pacta sunt servinda? I ask where Justinian is depicted in Italy
The president of the ABI cites Latin law in response to the Government's request for a new financial contribution despite the three-year agreement.
Quick Look
The president of the ABI, Antonio Patuelli, contests the government's request for a new contribution of 5 billion to the banks, recalling the principle 'pacta sunt servanda' and quoting the emperor Justinian in response to the violation of the agreements made.
AI-generated summary
Why It Matters
The Government requested a contribution of 5 billion to the banking system, in contravention of a three-year agreement signed the previous year.
«The mottos of Latin law were codified by Emperor Justinian. I ask you where in Italy Emperor Justinian is depicted." Thus the president of the ABI, Antonio Patuelli, makes a cryptic reply to those who ask him if in his opinion the motto "pacta sunt servanda" still applies, the agreements must be respected, after the Government asked for a new contribution of 5 billion to the financial system as part of the Budget Law despite the three-year agreement signed last year.
The Roman emperor Justinian, by whose will the Corpus iuris civilis was drawn up, is often included in allegorical representations of civil justice, even within the courts. Yesterday the CEO of Intesa Sanpaolo, Carlo Messina, underlined that last year the banks and the government "reached an agreement for a three-year contribution".
"I believed it," concluded the banker. However, no other position was received from the bankers today at the end of the meeting of the ABI executive committee. All participants left the association headquarters without making any comments on the topic.
Open Questions
- How will banks react to the formal request?
- What will be the legal consequences of violating the agreement?
