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Visco: 'Polar star is bringing inflation back to 2%'


'Clear direction on rates, evaluate case by case on the basis of data'. 'Possible impact from financial developments outside the EU even if the economy is more resilient than expected', said the Governor of the Bank of Italy. 'There are no liquidity problems in EU banks'. Gentiloni: 'In Italy attention is being paid to the bridge over the Strait and to the flat tax but there is an extremely topical problem which is the Pnrr' (ANSA)

"The financial developments that have taken place outside the euro area can have an impact and represent a further element of uncertainty even if the economy has shown a resilience higher than expected", said the Governor of the Bank of Italy, Ignazio


, speaking at the presentation of the new Affari&Finanza of the newspaper La Repubblica.

"Credit Suisse's problems didn't escape the radar. We in Europe have all the tools to deal with liquidity crises" and "we don't detect capitalization and liquidity problems in our banks," Visco



"Reducing inflation to 2% must be our guiding star", said the Governor of the Bank of Italy.

"The direction on rates is clear, the inclination certain even if it is necessary to act with prudence and evaluate case by case or, as we say in the press releases, meeting by meeting, on the basis of the data available", he adds. 

"In Italy attention is paid to the bridge over the Strait and to the flat tax but there is an extremely topical problem which is the Pnrr", said

the European commissioner for economic affairs, Paolo Gentiloni

, on the sidelines of the presentation of Affari&Finanza di Repubblica.

"The second challenge is what role Italy wants to play on the environmental challenge. The second largest European manufacturing cannot be relegated to a policy that drags its feet or dreams of returning to other eras. The transition exists and it cannot be the last carriage,” he added.

"In 2022 we showed a remarkable capacity for resilience. This is not just for a rebound.

We are now in a 2023 full of uncertainties

", added Gentiloni during the presentation of the new Affari&Finanza. "We can face it - he added - with a certain degree of confidence.

The world of manufacturing in Italy has become very modernized.

Now we have to face a year where so many dilemmas will emerge.

The first: Italy is growing slowly, it has lower growth levels than other countries.

The low growth requires reforms and the need to attract investments". "We must look at the awareness that the two crises have hit two different banks and with different motivations.

The reaction of the authorities was strong and rapid". "We must reassure - he added - that our rules are strong and valid.

We have to deal with inflation and growth.

Inflation is a problem for workers and for companies.

We are not used to it.

Inflation will come down, core inflation is more resilient".

Source: ansa

All life articles on 2023-03-20

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