Strong position taken by the Codici association regarding the decision of the General Prosecutor's Office of the Cassation to request the referral to the United Sections of the issue relating to the manipulation of the Euribor rate, on which the third section of the Cassation expressed its opinion in December with a ordinance which paved the way for numerous and important refunds for consumers.
“The decision of the General Prosecutor's Office surprises and worries – declares Ivano Giacomelli, National Codes Secretary – and this for two reasons. The first concerns the fact that referral to the United Sections usually occurs when there is a jurisprudential conflict between different sections of the Supreme Court, or when conflicting orders are issued. This is not what happened in this story, on the contrary, and this is where the second reflection comes in. On the issue of manipulation of the Euribor rate there has only been one order from the Supreme Court, the famous one from last December, and it is a very linear order. So not only are there no conflicting opinions between the sections, but we are also intervening against a logical orientation. This is why we contest the decision of the Attorney General's Office, although unfortunately we must say that we are not entirely surprised. As soon as a window opens for consumers, intervention arrives promptly in the sole interest of the banks. Faced with the future critical issues foreseen for credit institutions for possible refunds that would affect millions of savers, here is an initiative that in fact works to the detriment of citizens. We remind you that the December order of the Court of Cassation declared the nullity of the Euribor parameter and consequently of all payments made by way of interest on mortgages, financing and leasing linked to this rate, stipulated previously or during the period between 29 September 2005 and on 30 May 2008 as the result of manipulation by a group of international banks. Please note, this ordinance arises from a decision of the European Commission in December 2013, which sanctioned a cartel in which the major international banks had participated. So it wasn't an impromptu intervention, the matter is longstanding and the ordinance follows a clear logic. We will continue to fight to protect consumers, waiting to know the outcome of the request from the Attorney General regarding the referral of the matter to the United Sections".
The Codici association has activated an assistance service for those who have signed a mortgage or financing contract with the Euribor rate in order to request reimbursement in light of the nullity of the parameter declared by the Court of Cassation regarding the period between 29 September 2005 and 30 May 2008, as it is the result of manipulation. For information and clarifications you can contact the number 065571996 or write to the address segreteria.sportello@codici.org.
Rome, April 4, 2024
