Speaking at the Italian Banking Association annual assembly, Minister of Economy and Finance Giancarlo Giorgetti said he expects this to be the last ABI meeting at which the government remains a shareholder in some major banks, adding that the public shareholder role has been exhausted. He used the speech to urge banks to use their financial strength to support stronger economic growth, with particular emphasis on credit intermediation and financing for micro, small and medium-sized enterprises, and to help direct private savings toward investment in the real economy. Giorgetti linked the banking sector's position to Italy's broader macroeconomic and fiscal backdrop, citing deficit reduction, a return to a primary surplus and a narrowing spread as factors that have strengthened the country's credibility in international markets and improved bank funding conditions. He also reiterated government measures aimed at expanding and diversifying companies' access to capital markets, including the Capital Law, the revision of the Consolidated Law on Finance, the reform of supplementary pensions and the launch of the National Strategic Indirect Fund. In that context, he argued that restricting credit to the widest part of Italy's productive base would create not only an economic problem but also a risk to the country's economic security.

Original source Back to tracker