Bank of Italy Governor Antonio Fazio resigned on Monday.(Photo: Xinhua/AFP)

ROME, Dec. 19(Xinhuanet)-- Bank of Italy Governor Antonio Fazio, who is under investigation by Italian prosecutors for insider trading in Milan, resigned on Monday, the Bank of Italy said.

In a statement, Fazio said he was resigning"in the supreme interest of the country and the Bank of Italy."

He added his decision has been taken"independently and with a clear conscience."

The move came on the eve of an emergency cabinet meeting to discuss ways of forcing the central banker to step down.

Milanese prosecutors have been investigating Fazio's role in the Banca Popolare Italiana's(BPI) failed takeover war with Dutchbank ABN Amro Holding NV for Banca Antonveneta SPA. The prosecutors are also reportedly investigating Fazio for insider trading in connection with the case.

Fazio's reputation was badly tarnished after published transcripts of wiretaps ordered by magistrates appeared to show that he and his wife worked behind the scenes to help BPI against Dutch rival ABN Amro.

ABN Amro eventually prevailed in its bid after Italian judicial probes blocked the BPI operation.

As Bank of Italy governor, Fazio was a member of the board of the European Central Bank, which sets monetary policy for the 12-nation euro zone. Enditem