The international scenario revolves around two variables: the energy shock caused by the war in the Middle East, which represents a risk especially for Europe which is more dependent on fossil fuel imports, and the spread of artificial intelligence, which is mainly an opportunity and is also making its effects felt on stock markets. This was emphasized by the governor of the Bank of Italy, Fabio Panetta, speaking at the annual ABI assembly in Rome. Where he also focused on the “good aggregations that preserve the real economy”.
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Before him, the president of the Italian Banking Association, Antonio Patuelli, had spoken, sending a message to the EU to complete the Banking Union and defending the role of credit institutions in our country: they do more than their part.
The president of ABI
During his speech, Patuelli focused on both the domestic and international framework. “In Italy, starting from the South, bank loans to families and businesses have been growing for months, there is more supply than demand for loans, also due to uncertainties and international crises,” said the ABI president in his opening remarks. Emphasizing how banks – Patuelli said – credit institutions have “faced every kind of crisis,” “applied many reforms,” and “made continuous, significant capital strengthening and reorganizations in recent years more than in other parts of Europe, with the constructive role of banking unions.”
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In Italy – he continued – banks “do more than their part, out of a sense of responsibility, for the constant fight against all forms of illegality, for solidarity interventions to families and businesses primarily for natural disasters, for direct and indirect support to social needs and with tax levels higher than those due under Article 53 of the Constitution.” Not forgetting that they are also “committed to simplifying language, for financial inclusion and for the implementation of new rules on consumer credit.”
In his speech, his thoughts also went to the EU and the Banking Union to be completed. “At this stage, to avoid decision-making paralysis from vetoes, enhanced cooperation among States is needed in the EU,” he warned. In his view, “it is urgent that the EU approve measures for the Union of savings and investments and the completions of the Banking Union, capital markets and savings are essential and urgent, as well as less fiscal competition among EU States,” he stressed.
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