• Visco: "You can't live under the nightmare of deficit, you need stability"
  • Visco: "Staying in Europe, without we would be poorer. Spread weighs on growth. Immigration helps"

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20 September 2019The governor of the bank of Italy, Ignazio Visco, spoke at the Polytechnic of Ancona with a lectio magistralis on various topics. Not only economy, but also migration issues, politics, demographic decline and technologies.

According to Visco, to reactivate economic growth, Italy needs "an effective plan, definitively abandoning the easy and illusory search for scapegoats" such as Europe, finance, markets and immigrants. Instead, it would require "an in-depth analysis of the evils of our economy, which puts the challenges posed by technological and demographic change in the foreground".

If the population ages, "the number of pensions and assistance increases" explains Visco. Thus a higher labor market participation rate, a lengthening of working life, measures to combat unemployment and a more robust productivity dynamic are, according to the governor, "fundamental factors in Italy to mitigate the negative effects of trends Demographic. " Immigration "can make a contribution to the productive capacity of the country".

According to Visco, Italy, including companies and banks, "is behind the technological revolution taking place in the world". Investments in new technologies have been modest and companies have insufficiently innovated in the last 25 years, "also due to the greater presence of SMEs - small-medium enterprises".