“Our banks are the most supervised, a Silicon Valley Bank case is unlikely”
Great welcome yesterday in Florence for the president of the European Central Bank Christine Lagarde who participated as guest of honor of the Osservatorio Permanente Giovani – Editori, chaired by Andrea Ceccherini, at the public appointment of the “New meetings for the future” cycle, with 400 students participating, in five European Union countries, in the “Young Factor” economic-financial education project promoted by the Observatory. “New meetings for the future” had already seen the participation of Apple CEO Tim Cook, the founder of WhatsApp Jan Koum, the global executive president of Google Eric Schmidt and the president of Emerson Collective Laurene Powell Jobs, widow of the founder of Apple.
In the frame of Palazzo Corsini, Christine Lagarde and Andrea Ceccherini discussed the challenges of the future but the young people present in the room were the great protagonists who asked the President of the ECB, in an intense question and answer, numerous questions concerning the most current economic-financial topics and those that are most dear to generation Z, for example climate change.
As Repubblica reports, “questions on the hottest topics also arrive, the kids are prepared. Inflation? «That “core”, the nucleus, is still too high. The goal is to regain price stability, and the best tool we have as the ECB are interest rates”. explains Lagarde, disappointing those who might have thought that the air of Italy would have made it more dovish. European banks? Are we risking a collapse at Silicon Valley Bank? “Our institutions are more supervised, solid with robust capital and liquidity, it is unlikely that what happened will repeat itself here”. But in a day that revolves around Europe, a note also arrives on the Pnrr, on which our government struggles: “Italy played a key role in making all of Europe understand that more needed to be done,” says Lagarde. But this means that an important part of the future of the Union passes from his success in implementing the projects and carrying out the reforms of the Pnrr: “It must be completed”, is the message”.
In addition to Italian students, the event was also attended by delegations of young Europeans, who in Germany, France, Spain, Portugal and the Netherlands participate, in their respective schools, in the experimentation of “Young Factor” which today represents the leading education project financial economics in Italy and is conducted in partnership with Intesa Sanpaolo and UniCredit, on an experimental basis, in the major European countries of the euro area.
The Florentine event follows the three-day international conference, held in June 2022 in Milan which saw the participation of the Governors of the Central Banks of Italy, France, Spain, the Netherlands and subsequently of Portugal. On that occasion, the Governors signed a Memorandum of Understanding with the Osservatorio Permanente Giovani-Editori, committing themselves to work together, as effective members of the Advisory Board of the Osservatorio Permanente Giovani-Editori, to promote economic and financial education among young people and the sense of belonging to the European Union. Following the Milanese event, the president of the Deutsche Bundesbank, Joachim Nagel, also joined the Advisory Board of the Observatory to work together on this challenge. With her presence in Florence, ECB President Christine Lagarde relaunched and confirmed the commitment, together with the Osservatorio Permanente Giovani-Editori, for a greater dissemination of economic and financial education at European level.
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