MILAN (Reuters) – European companies must have fewer obstacles in their investment activities and must be able to rely on rules that permit a high degree of innovation in the tools available to finance .
At present it with a message that is matched by that of today’s Bank of Italy governor Ignazio Visco, is the Minister of Economy Pier Carlo Padoan, who spoke on these issues all’Eurofi Financial Forum on the eve of Eurogroup and ECOFIN informal program in Milan.
Seizing the opportunity of the six-month presidency of the Council of the European Union, Italy proposes a strategy based on a better integration of the internal market, structural reforms, also monitored with benchmarking tools, and balanced investment between the public sector and private sectors. A key latter also strongly touched today by Visco.
Some sources of funding for small and medium-sized enterprises Italy proposes common rules, for example on minibond. A paper on the subject will be discussed at the meetings in the coming days with the goal of reducing dependence on the banking system and support growth. As for the only Italian at the end of August, the Treasury has made an initial assessment, making it known that in the last two months more than 20 small and medium-sized enterprises have issued mini-bonds for about one billion overall.
On the subject of funding for Padoan will be important to ensure a transparent financial market in which the securitization, after the past scandals, may once more be used. After that Mario Draghi announced the plan to purchase seven days of abs, along with covered bonds, even today Visco has emphasized the utility to expand the range of financing.
(Elvira Pollina, Luca Trogni)
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