The rigidity of trade unions and businesses is a major obstacle to Italy's development. This was stated by the number one of the Bank of Italy, Ignazio Visco, during his speech at the Luiss University of Rome for the celebration of the centenary of the birth of Guido Carli.
According to Visco, “ties and snares, understood as bureaucratic, corporate, entrepreneurial and union legislative rigidities, are always the main obstacle to the development of our country. Italy's problems today are very similar to those that could be observed at the end of Carli's governorship”.
As for the current economic situation, “the signs of reawakening that we see are encouraging – continued Visco –, but they must be confirmed in the months and years to come: constancy in reforming action is essential. Only by resolutely tackling the structural issues that have held back the Italian economy even before the recent crises, and have aggravated the consequences, will it be possible to resume a path of robust and lasting growth”.
For the Governor, "today there is no lack, as there has been in the past, of awareness of the things to do. But the movements of politics, of the social body have appeared impeded and the action has proved to be largely insufficient with respect to the need. However, the consequences of stagnation are different from those that manifested themselves in the seventies: while then it was inflation, today it is stagnation".
In recent years, added the number one of Bankitalia, "we have slipped backwards, we have accumulated delays in seizing the opportunities offered by the great changes: the globalization of trade and the revolution of information and communication technologies".
