Banks, Padoan: the system must be strengthened but has resisted fairly well to the crisis. Shooting below expectations – Il Sole 24 Ore

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This article was published April 6, 2016 at 12:40.

If you “need to strengthen the banking system” that still has “resisted very well to the recession.” It looks as Economy Minister Pier Carlo Padoan, in his speech to the opening of savings Salon, remembering the various measures introduced by the Government in order to strengthen the sector. In particular, the survey includes interventions made on the popular, the Bcc, foundations, measures to create a level playing field in Europe “to increase the efficiency and quality of the sector and facilitate the mobilization of non-performing loans and improve procedures bankruptcy. “

Shooting weaker than expected
Reflections more overall economic framework. “The context in which we find ourselves now is different from what we would have expected a few years ago. We would have expected after a deep recession like the one that began in 2008 would be followed by a dynamic recovery, what is called a V-shaped recovery, “Padoan thinks. Instead, “despite the very aggressive monetary policy measures, the recovery remains below expectations, it is weaker than the previous” and “the immediate reason is a weak investment activity.” The investments are low because expectations are low demand, because suffer from a climate of uncertainty. The markets “do not seem to expect that conditions will return to normal soon, and we talk about the new normal.” Therefore, “also react with a higher volatility which in turn feeds the uncertainty.”

+ 0.2% to finance measures for growth in Def
The government also estimates that the measures “finance for growth” adopted They may have on gross domestic product and this assessment will be included in the next Def. “In the document of economics and finance which will be published in the coming days, we evaluated the impact of the measures contained in this package. The simulations show that will generate 0.2% more of GDP compared to the baseline scenario, and up to 1% in the long run. “

On pensions ambitious reforms, system among the best in the EU
the European indicators show that the Italian pension system is among the best available in the EU. “Over the years Italy has implemented ambitious reforms of the pension system: European indicators show us among the best existing systems.”

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