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Interview with Carlo Messina: 5 steps to cut Italy’s public debt

Carlo Messina CEO Intesa Sanpaolo

In an interview published today by the financial newspaper il Sole 24 Ore, Intesa Sanpaolo’s CEO Carlo Messina proposes a five-part plan to reduce Italy’s public debt and drive the post-COVID recovery.

“Italy needs to create Social Bond instruments, repatriate capital, capitalize on public real estate assets, invest in infrastructure and the green economy, and create incentives to invest employers’ TFR withholding tax-free in government bonds. Just providing liquidity so businesses stay afloat isn’t enough”, says Messina.

The CEO of Intesa Sanpaolo is encouraged by the Italian government’s efforts to address the Coronvirus health emergency, secure jobs and provide liquidity. “There’s no way around financing through public debt”, he says.

Messina would also like to see public grants that don’t increase the debt burden on companies “to keep alive those companies that have lost six months of turnover… this is decisive as they must play a game that goes beyond Europe, in global markets”.

Let’s get moving today. If we think about this in a year it will be too late

 

Carlo Messina, CEO of Intesa Sanpaolo

Solidarity initiatives need to be expanded to help the most vulnerable

 

Carlo Messina, CEO of Intesa Sanpaolo

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