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June 22, 2020 "The state of uncertainty in which we find ourselves does not allow us to make accurate but reasonable predictions, we proceed for possible scenarios", but this "does not mean that nothing should be done". This was said by the governor of the Bank of Italy, Ignazio Visco, speaking at the round table 'What economic policies for Italy' organized by the Accademia dei Lincei and the Italian economists' society. Quoting Keynes, the governor stressed that it takes "a well-built plan" to deal with the crisis.  

Visco highlighted the "need to move with not only the short term but also the long term in mind", elaborating "a well-constructed plan". "We need to understand how to build a program for the future, also because the analyzes show imbalances to be filled", starting from the size of Italian companies, which remains too small if we consider that "out of 4.3 million registered companies, only 25 thousand have more than 50 employees, yet they produce about half of the national added value ". "Productivity growth is needed," said the Bankitalia governor, noting that "1% growth is within our capabilities but requires collective effort."

The "dramatic drop in the first and especially the second quarter which will lead to a year which, arithmetically, will hardly have a result in terms of overall Product other than a fall of around 10%", said the governor of the Bank of Italy, Ignazio Visco, stressing that "it can be slightly higher or lower, depends on what will happen in terms of the evolution of the pandemic in the second half of the year and not only in Italy". According to the governor, "we need to understand how we can build a program for the future, also because the analyzes show imbalances to be filled". 

"It takes a good bureaucracy, the absence of bureaucracy is not good as many ask." Visco said that "it is easy to say simplify" but a public administration that is capable of "responding to the needs" of citizens is needed and "faster justice" is needed. 

The taxman "requires a very broad reform" on which we must have a "broad overall vision and not tax for tax", said the governor of the Bank of Italy, with reference to the possible reduction of VAT. 

"Italy needs the ability to spend well the European funds that are to be used in useful infrastructures and projects", said Visco, during the round table, underlining that these funds "will have to be paid".