State of thesaving of Italy, effect of the duties and of Trumpism on the international scene dominated by two wars, rates and currencies, inflation and recession or growth and above all the Bank mergers which are crossing several European countries but especially ours.
After the findings of theIstat, the proposals of Confindustria for an extraordinary industrial plan and yesterday's warnings International Monetary Fund the final considerations of the Governor Fabio Panetta are the right opportunity to make a truthful analysis of the state of health of the Italian economy which is not worse than that of other European countries but which certainly cannot lower its guard. Debt, even if under control, is always a burden for our economy which requires a prudent budget policy, but in this phase there seem to be three emergencies that dominate our economy: the deep crisis of the manufacturing industry which for two years has seen production activity decline, the energy costs that penalize businesses and families and the risks associated with Trump's duties for a highly exporting country like ours. On all these aspects the Governor's words are particularly awaited.
But even more anticipated will be Fabio Panetta's considerations on banking system and on the season of aggregations that our country is experiencing. How does a supervisory authority such as the Bank of Italy, in harmony with the ECB, to evaluate the goodness or otherwise of a bank takeover bid and of the five operations underway that can change the face of our banking system and partly also of the insurance system? But above all, who is responsible for judging them? The supervisory and control authorities and the market or not only? One of the novelties of the so-called "new world" is the protagonism, not only in Italy but especially in Italy, of governments that forcefully enter into banking operations and become referees rather than players. The extension of the Golden Power especially in the face of the takeover bid of Unicredit on Bpm bank it is there for all to see and the Governor's Considerations are particularly important, even if it is not to be expected that they will go into specifics but will be of a general nature.
