In Italy things have a way of happening suddenly. At the beginning of last week there were the "big four" banks: Banca Nazionale di Credito, Credito Italiano, Banca di Roma, Banca Commerciale Italiana. Then one evening Italian businessmen picked up their evening papers, were startled to learn that the first two of these planned a merger, that directors would meet to ratify the terms within four days. Although the banks are said to have conceived of the idea all by themselves, admittedly "encouraging and advising" the merger was the Fascist Government which has...
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