 The Andreatta-Van Miert agreement marked a significant acceleration of privatization, which started in 1992.Despite some opinions to the contrary, the Treasury chose not to privatize the IRI, but to sell off its operating companies; this policy was inaugurated under the first government of Giuliano Amato and was never called into question by later governments.In 1997 it reached the levels of indebtedness secured by the Andreatta-Van Miert agreement, but divestitures continued and the institute had lost any function but to sell its assets and to move towards settlement.