(Finance) – The recovery driven by consumption “There wasn’t” and the weakness of the economy European is “more persistent of what we expected. “The Governor of the Bank of Italy confirmed it, Fabio Panettaon the occasion of his intervention in streaming to the ABI executive committee. “Above all the industry suffers for problems who are alone partly conjunctural and partly structural“, The governor explained, citing the car sector, the collapse of registrations and the competition of Chinese producers.
Panetta warned that too The occupation “begins to give signs of weakening”after “two quarters of growth nothing” and “tensions in the manufacturing sector”.
The governor also mentioned theinflationwhich is approaching the stability threshold of 2%, even if “In recent weeks, new risks for energy have emerged”. “In this path of monetary policy you have to be careful of emerging risks,” he underlined.
Speaking of the decrease in bank creditBankitalia’s number one referred to the “weakness of the question”but also to the braking of investments, the decline in the profitability of companies and the growth of other immaterial assets. “When there is a persistent and prolonged reduction in credit,” he said – it is necessary “Being more careful” and “ask yourself questions”.
On the regulation of banksPanetta specified chiAnd Europe “perhaps regulates too much”, but “must not follow the US” In the deregulation, since it would risk “spoving the work of the last 15 years, after the financial crisis”. The governor explained that today banks can move freely because they have one Good capital equipment And he underlined that “a downward race would be harmful”, but “a” simplification of the rules is desirableeven on technical aspects “, as the diversification between EU and USA would bring” competitive disadvantages “.
Speaking of failures in the sector of cryptocurrencyPanetta explained that “They didn’t touch the docksand, because these two worlds were wisely kept and separated “but the deregulation solicited by Trump could change things in the future.