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2016 Euromoney Conference Italy

Figures, challenges and new scenarios for the Italian economic recovery

2016 Euromoney Conference Italy

Claudia Astarita

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The annual Euromoney Conference Italy has recently taken place in Milan and hosted several important protagonists of the national economic scenario. Among them, the Minister of Economy Pier Carlo Padoan and Maria Cannata, reference person for public debt at the Treasury Department.

The experts have discussed up-to-date figures concerning the Italian economic situation, highlighting the 2016 growth as inferior to 1,2%. Besides that, the central topic of many roundtables has been "Italian competitiveness". Fabrizio Pagani (head of the technical secretary Ministry of Economy and Finances) stressed how "Italian companies are already more competitive than German ones", being the majority small and medium enterprises (SMEs). According to Pagani, the main obstacles Italian companies are facing are related to structural faults, such as the difficulties to broaden their dimensions and their excessive dependence on bank loans. Nevertheless, progressive credit liberalization could solve this problem, opening the way to new sources of economic support.

The government was really optimistic towards Italian economic situation and the Prime Minister Matteo Renzi has pointed out Milan as the "leader city" to drive the national economic ascent. In fact, the Italian Premier has portrayed the city as "the one who takes Italy by the hand and leads it towards the future, investments and growth". "Milan is not only a source of inspiration for other Italian cities but it also has the responsibility of keep on being a model", Renzi emphasized. In fact, Milan stands out as a reference point for many sectors, from entrepreneurship to fashion. For these reasons, the government is ready to invest in the city, in order to improve its efficiency, living standards, and attractiveness. In particular, the new interventions will focus on transports (an innovative eco-friendly underground and electric buses) and suburbs re-qualification. Security is also a field of intervention and new military personnel will be sent while waiting for new policemen.

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