The Eurovita affair is a test of Meloni’s mettle

The ability to keep the level of media and social interest low for the insolvency of a medium-large insurance company is key in crisis communication. For now, however, the first signs of real tension appeared on Monday. The appeal for calm and reassurances for Eurovita caseits customers and shareholders. Comparing this story with that of the small banks of Central Italy, Banca Etruria, Banca Marche, CariChieti and Cassa di Risparmio di Ferrara, the difference is striking, even if, of the four, it must be said, the interest aroused by Banca Etruria for well-known political reasons. In any event, Eurovita was silent. Very few political positions have been taken, and no desire for self-blame if not real responsibilities, at least lack of vigilance.

The ability to keep the level of media and social interest low for the insolvency of a medium-large insurance company is key in crisis communication. For now, however, the first signs of real tension appeared on Monday. The appeal for calm and reassurances for Eurovita caseits customers and shareholders. Comparing this story with that of the small banks of Central Italy, Banca Etruria, Banca Marche, CariChieti and Cassa di Risparmio di Ferrara, the difference is striking, even if, of the four, it must be said, the interest aroused by Banca Etruria for well-known political reasons. In any event, Eurovita was silent. Very few political positions have been taken, and no desire for self-blame if not real responsibilities, at least lack of vigilance.

The 350,000 Life Policy subscribers whose refunds are currently on hold began making their voices heard on Monday. Time passes and this system is still in place, with a specific mechanism to involve all companies in efforts to ensure customers and subscribers. Dall’Ivass, the state agency that supervises insurance, an agency that proposed to the Minister of Enterprise and made in Italy the dissolution of the administrative bodies after a series of difficulties recorded in the capital, let us know that nothing has changed and that the indicators for operations remain the same, in view of the most appropriate solution . But when some doubts start to fade, as they do, it doesn’t take much to turn stress into anger. Perhaps the time has come for unequivocal commitments from the government. If a system solution is ready or very close, it would be a good idea to announce its scope and implementation times as soon as possible. For the Italian financial system, in its broadest sense, this is not exactly the time to suffer the shock of insolvency.