(Finance) – “The deposits of companies in the two years of the pandemic increased by 100 billion euros, those of families by 130 billion. If these funds were to return to investments for companies and for consumption by families, development could grow “. This is what the CEO of Intesa Sanpaolo, Carlo Messina over a discussion with CGIL leader Maurizio Landini entitled “Data are everything. For sustainable digitization” organized by Fisac-Cgil and moderated by Lucia Annunziata.
“Of course, there was a propensity to save due to uncertainty, but if these funds – underlined Messina – returned on the one hand to investments for businesses and on the other hand in part for households to consumption, the development of The resources are in Italy, they are in companies and banks like ours 400 billion on the Pnrr but we have a credit supply capacity that goes beyond even this dimension. There is a design problem with the things that need to be done. Many entrepreneurs are already well ahead. Until there is a semi-normality for the price trend, the priority must be to support what is happening. But the priority is that the 100 billion of businesses return to the economy and the 130 billion of household deposits more to consumption and that the government can make the best use of the funds of the NRP. Banks like ours have to put multiples of these numbers on the table. If so, I think that our country will be able to have more employment and a reduction in inequality. But if we continue as in the last 15 years it will be very complicated “.
The crisis in Ukraine – said the CEO of Intesa Sanpaolo – imposes a new evaluation of the business plan approved by the Institute but, to date, all actions remain valid. “What happened after February 24 leads to having to evaluate the business plan approved before that moment, but I can assure you that from the industrial point of view all the actions we have outlined remain valid, everything we have thought of for our people remain valid – Messina said -. More aid is needed for those in need, otherwise social peace is at risk. What must be accelerated is social sustainability, making sure that those who have more resources make them available to those who has less, otherwise we will face a dramatic social crisis in the next twelve months “. Messina recalled that there are 5 billion in investments in digital and that human capital is the “most important thing” that Intesa has and that for the people who are in the branches that will be closed “new jobs will be offered”.
In the current crisis scenario from Messina comes the proposal to build anti-inequality funds with fiscal mechanisms. “I am worried – Messina said – about social inequalities. There are workers with decent wages but if inflation increases they find themselves having to make choices” such as between heating the house and eating. This is unacceptable. It is important that large companies with significant income capacity do something. “They could build funds to mitigate inequalities with fiscal mechanisms from the government.”