We propose a comprehensive, pan-European scheme to address the issue of non-performing exposures. We contend that securitisation is the most effective way to sell the bulk of troubled loans because it can rise the transfer price at a level closer to the real economic value, reducing the loss for the banks at bearable levels. Through […]
He has been a Full Professor of Economics of Financial Intermediaries from 1972 to 2001 at the Universities of Modena and of Bologna. Visiting Professor at the University College of North Wales and Brown University. Member of the Scientific Committee of Prometeia (Association for econometric research, Bologna), and of the Boards of the journals Banca Impresa e Società and Mercato Concorrenza Regole. Italian Stock Exchange Commissioner from October 1993 to October 1998 (he has been a member of many government committees, including the Draghi Committee for the preparation of the Testo Unico of the Italian Securities Act. Columnist of Il Sole 24 Ore. Member of the Editorial Board of www.lavoce.info and contributor to voxeu.org. Trustees of the IFRS Foundation, London.