Today, on their website, La Repubblica suggested a reflection on the image that Italy is providing to the world of high finance on Wall Street in New York, with the investigation by the Milan Prosecutor's Office involving two American funds
The article is titled as follows and is enriched from the point of view of some figures in the New York scene who have given their view of the facts, while remaining anonymous:
"The Milan case shakes Italy's image on Wall Street." And then a quotation is added to the title as well: "This is how investing becomes risky."
The common feeling across the ocean is that it seems impossible for a fund like Elliott, "part of the establishment," to have fallen for a formal error.
The issue is broader, however, and a financier from New York comments on it to Repubblica's microphones: "If the authorities do not demonstrate having smoking gun evidence, Italy's credibility in attracting foreign investments will be at stake. The invasion of the Guardia di Finanza to seize documents in a privately held company does not instill much confidence."
Another figure in the American scene then commented on the specific case:
"It seems to me a semantic and subjective issue to suspect that a property remains. It means confusing the role of debt with respect to equity. And if Elliott has already publicly stated that it has sold, I doubt they would lie, exposing themselves to much more serious trouble."
