Most worryingly, wiretapped conversations published in the Italian press suggested the governor had a close relationship with BPI and its boss (until recently), Gianpiero Fiorani.
Moreover, telephone conversations tapped by magistrates, who suspected that BPI was breaking the rules and had placed Gianpiero Fiorani, its boss, under surveillance, suggest that Mr Fazio intervened time and again to favour BPI's bid even though the bank was only one-third the size of its target and much less healthy.