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197:. The vice-director of the Bank of Italy, Mario Sarcinelli, was also indicted and even arrested. A wave of indignation swept through Rome's judiciary. Baffi and Sarcinelli received countless demonstrations of support. Baffi, who escaped the shame of arrest due to his age, preferred to resign as governor in September 1979. Before relinquishing his post, he suggested the name of his successor, Carlo Azeglio Ciampi, to Prime Minister Francesco Cossiga.
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He resigned in 1979, after a failed accusation against him led by magistrates of the
Tribunal of Rome, considered kin to the Caltagirone family (a group of builders who had contracted heavy debts with the Bank of Italy) and Christian Democracy. Baffi died in Rome in 1989.
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Baffi was acquitted: the indictment was unfounded. The suspect is that he was indicted for "indication" of powerful foreign powers because he was defending Italy's interests in the negotiations to join the new
European single currency.
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He was awarded the title of honorary governor and, until his death in August 1989, was advisor and from
September 13, 1988 vice-president of the Bank for International Settlements (BIS).
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In March 1979, he was implicated in a judicial investigation into the lack of vigilance by the credit institutes opened by the
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Content in this edit is translated from the existing French
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138:(5 August 1911 – 4 August 1989) was an Italian academic, banker, and economist. He was the Governor of
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L'indebitamento esterno dei Paesi in via di sviluppo: situazioni e prospettive
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Anni del disincanto. Lettere 1967-1981 (carteggio tra Paolo Baffi e
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Knights Grand Cross of the Order of Merit of the
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The Bank of Italy library has been named after him since 1990.
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Il problema monetario italiano sullo scorcio del 1944
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Servitore dell'interesse pubblico. Lettere 1937-1989
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