Claims of bribes, kickbacks and false accounting at Italy’s oldest bank, Monte dei Paschi (MPS) based in Tuscany – a bank closely associated with the left wing Democratic Party which hoped to win next month’s elections on a pro EU “save the Eurozone” ticket. Indeed until a few days ago it was run by a leading socialist, Giuseppe Mussari

Moreover questions are now being asked about the head of the European Central Bank, Mario Draghi, who was in charge of the Bank of Italy in 2010 back when regulators went through the MPS books and claimed it was all kosher. Draghi is supposed to be the big cheese who will control the revamped Eurozone via the ECB so this brings into question his powers of judgement.

MPS is closely linked with liberal/left elite of Tuscany, the Italian equivalent of the high minds of WaPo/NYT in the US and Guardian/BBC in the UK so Berlusconi (loathed by the left) and other Italian politicians suspicious of EU schemes to prop up the Eurozone are rubbing their hands with glee.

Bribery, corruption and lies from the Italian left? Nothing new in that……