In an interview with Bloomberg TV, the governor of Bankitalia Ignazio Visco posed, among other things, the question of precautionary savings, accumulated by Italian families in the face of the crisis triggered by the Covid pandemic. Precautionary savings which confirms the fears of consumers and which, in his opinion, is a situation to be corrected, because the “scars” of the crisis “can make long-term difficulties”.
Visco also spoke about the importance of the Recovery Fund-Next Generation EU, underlining that it is a “crucial” tool, and also launched an appeal for economic stimuli to remain for as long as necessary to ensure a solid recovery:
“Slightly postponing the release is less of a concern than removing these measures too soon”. “There are many small and medium-sized businesses that have been heavily affected – continued the governor – many of them will be profitable with the return to normalcy, but we must avoid chain failures”.
That said, “so far things are going well, with a low rate of default”, a factor that does not worry Visco about the risk of an increase in “zombie” companies in Europe.