The Bank of Italy has been the “weak point” of the system under the governorship of Ignazio Visco, former prime minister Matteo Renzi said Thursday, putting pressure on the government not to renew his mandate.

Visco’s mandate expires at the end of the month and the center-left government is widely expected to recommend he serves another six-year term.

Visco sits as a board member of the European Central Bank and is considered a close ally of ECB’s President Mario Draghi.

Renzi, who heads the ruling Democratic Party (PD), said he would respect whatever decision is taken by the government, adding that if Visco was reconfirmed, he hoped he would do a better job next time round.

Source: cnbc
Italy's Renzi attacks Bank of Italy governor as re-appointment nears