The governor of the bank of Italy to ModenaFiere: “reforms are essential” – ModenaToday

“Stability and reforms are essential elements for the development. There are no shortcuts, especially for a country burdened by a public debt that is so heavy and structural problems so persistent as our own”. And this is the warning of the governor of the Bank of Italy, Ignazio Visco, during the annual congress Assiom Forex, the association of financial operators gathered today in Modena. “Second thoughts, delays, resistance continues, the Visco – are not lacking in some sectors, including banking, but is likely to have an impact on the conditions of the market, nullifying the progress made during the long crisis from which, though slowly and with difficulty, we are leaving”.

“In Italy, the recovery continues, albeit gradually, helped by the improvement underway in the global economy and by the orientation expansionary monetary policy. The conditions for the overcoming of the difficulties are particularly serious and some of the banks are raised, thanks to the tools defined and the measures adopted by the authorities”.

“The consolidation of the recovery and the strengthening of the banking system continues, Visco – are phenomena connected; based on the confidence of businesses, of families and of the

international markets in the ability of our country to continue the reform process initiated over the last few years.” According to the president of the Bank of Italy, “to avoid that the trust be affected, we must continue with determination on the road not taken: improving the efficiency of the State, the wider public sector in legislative activity at the administrative level, in the provision of services to the citizens; creating – and concludes Visco – an environment favourable to business activities; promoting research and innovation”.

(SAY)