(Finance) – On the internal level, “it is essential to introduce economic measures that can effectively improve the well-being of all citizens, as well as communicate them effectively in terms of objectives and tools”; furthermore, public policies “will have to protect and diversify the supply of raw materials and essential intermediate inputs, but this will have to be pursued without questioning the foundations of a world order based on common rules and open to circulation of goods, services, capital, people and ideas”. The Governor of the Bank of Italy said this, Ignazio Viscoin a speech on globalization in Lanciano, on the occasion of the “Marcello De Cecco” Economic Days.
According to Visco, “the National security must be sought and maintained by avoiding widespread protectionismwhich would reinforce the ongoing trend of increasing barriers to trade and direct investment”, while “the indiscriminate use of subsidies and restrictions in international trade would not only distort competition, in an attempt to influence companies’ location decisions, but it could also trigger new tensions.”