The energy crisis and the pandemic have brought «Germany into a uniquely difficult situation, with a dependence on Russia, and with an outlet market, that of China, with greater difficulties. This should not please us, because Germany is a fundamental interlocutor for Italy. To guarantee the growth of the Italian economy, Germany must grow again.” This was said by the CEO of Intesa Sanpaolo, Carlo Messina, on the occasion of the honorary degree in economics and finance awarded to him by the University of Padua.
On the other hand, Messina underlined, in the same period, “the great work done by Italian entrepreneurs, often unrecognised, which has led the country to have the most solid companies in Europe”. Another objective element, families: «Italian families have always had savings higher than the European average, and have continued to maintain it even in the conditions determined by the pandemic crisis, at the same time maintaining a level of debt which is the lowest among the countries Europeans.” “Looking therefore at the pillars of the economy, businesses and families – added Messina – Italy is the country best positioned in Europe, because it has strong factors linked to elements of the real economy”. The Italian problem of public debt remains: «Public debt penalizes us, because it determines a higher spread – he concluded – But bank deposits, during the pandemic, grew and are set aside, and can be a growth tool to earn two points of GDP”.