Ex-Bank of Italy chief on trial

Fifteen others will stand trial alongside Antonio Fazio

The former governor of Italy's central bank has gone on trial over his alleged role in a banking takeover.

Antonio Fazio faces market rigging charges stemming from 2005 when Banca Popolare Italiana tried to buy another Italian lender Banca Antonveneta.

He is accused of favouring the Italian bid over those from abroad.

The trial was suspended for a month after its opening on Thursday. Mr Fazio denies all charges. He could face six years in jail if found guilty.

Antonio Fazio had been governor of the Bank of Italy for 12 years when he resigned in 2005.

It is claimed he tried to block bids by Spanish and Dutch banks to buy Banca Popolare Italiana, although Dutch giant ABN Amro finally won the takeover battle.

Leaked telephone conversations taped by the police and published in national newspapers apparently showed Mr Fazio speaking regularly with top executives of the Italian banks, opening him up to allegations he unfairly used his position.

Mr Fazio denies any wrongdoing. Fifteen others are on trial with him, including the former head of oversight at the Central Bank.

Damaging

After joining the Bank of Italy in 1960, Antonio Fazio rose through its ranks. He earned a reputation as being a serious and respected banker.

The father of five children he is also a devout Catholic.

Mr Fazio, 72, has been accused of damaging Italy's international banking image - an image that will come under even greater scrutiny during his trial.