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Bank of Italy: Visco, tax evasion is an Italian anomaly that explains the country's difficulties

During the intervention of the governor of the Bank of Italy, Ignazio Visco, at the event in memory of Luigi Spaventa at the Bocconi University, it was highlighted how tax evasion is a typically Italian phenomenon which underlines the serious difficulties in which he lives the economy of the Bel Paese. An anomaly tolerated by the state.

Bank of Italy: Visco, tax evasion is an Italian anomaly that explains the country's difficulties

Tax evasion is a typically Italian anomaly that explains the serious difficulties of the Bel Paese's economy. This emerges from the intervention of the governor of the Bank of Italy, Ignazio Visco, during the event in memory of Luigi Spaventa, organized by the Bocconi University of Milan.

Visco recalled the delays of recent decades in adjusting Italian industry to the great global, political and technological changes and in the efficiency of public services. Then, speaking of Spaventa's relationship with the Bank of Italy (which lasted 55 years) and his analysis of the economic scenarios, Visco underlined how the professor had already identified for some time in the strong competition deficit and in the low dynamics of productivity in services compared to industry the Italian anomaly. An anomaly made even stronger by the greater tax evasion, tolerated by the State and which has contributed to the survival of inefficient marginal companies.

“Spaventa's analyzes – added Visco – were lucid and acute, his criticisms were sharp. We have treasured it to improve our investigations, to get to the root of the problems”.

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