By Roberto Ruozi, Luisa Anderloni
Banking privatisation represents one of many significant forces that are considerably altering the banking area in Europe. learning the method of banking privatisation therefore is helping to appreciate the dynamics of the field. This booklet analyses - from the point of view of either advertisement banking and funding banking - many of the techniques of banking privatisation in Europe and their results at the innovations and buildings of banks. In its theoretical half, the publication considers technical and monetary facets of banking privatisation from Spain, France, Italy, Norway, Germany, and Russia. An integral studying for funding bankers, regulators in addition to policy-makers chargeable for the life of effective and reliable banking systems.
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Additional resources for Banking Privatisation in Europe: The Process and the Consequences on Strategies and Organisational Structures
Formal privatisation is a fundamental step that has caused complicated problems in the sell-off policy of many economic systems. The analysis of formal privatisation process is a further tool for the researcher investigating the objectives that drive the governments. As such, we analyse the decisions taken in countries like Great Britain, France and Germany. We shall then move on to analyse the situation in Italy focusing on the formal privatisation of Italian state-owned banks. Before we proceed to describe the situation in each country in more depth we must emphasise that in all the countries, Italy included, the transformation process led to mostly joint-stock companies33, which shows what the market economies want in terms of company structures.
This group is charged to draw up the guidelines of the privatisation policy, to decide on the companies to be de-nationalised and their timing, to control the volumes of share issues and, lastly, to set out the policies and incentives for the employee shareholders and small investors. The govermnent' s total freedom in this process means that each operation took and for the remaining takes on distinctive traits both in timing and in the way the process was achieved. From a technical-legal viewpoint it is possible to put ones finger on a series of common aspects.
The privatisation laws also entrust the carrying out of the process to the Ministry of Finance, whenever requested, in collaboration with the Treasury and external consultants. It is therefore the Ministry of Finance that, after delegation by parliament, sets up the administrntive bodies directly required for the procedures. Among these the Commission de Privatisation is particularly important, having the task of evaluating the company to be divested. The laws also determine the institutional modifications required in the company in order to carry out the changes.