The Chairman of the Consob Giuseppe Vegas reaffirmed Wednesday that as of Thursday, the ban on naked short sales would be extended to all classes of shares.

At the beginning of November, Constable Italian Stock Exchange announced a ban on naked short sales of all equity markets regulated to reduce market volatility, a decision to take effect from 1 December at midnight.

In an interview published Wednesday by the newspaper La Repubblica, Giuseppe Vegas has also discussed the requirements of the European Banking Authority (EBA) relating to the recovery bond and that he would ask the Bank of Italy to raise the issue at European level

The new EU regulation that requires banks to value sovereign debt in their accounts at market value may cause a new credit crunch that could cripple the economy of Italy, said the president of the Italian stock market authority .

"In Italy, there are fears on banks. The money does not circulate. The main risk is the development of a credit crisis."

"In this scenario, the risk that a bank collapse is secondary.