The current pandemic is putting the Italian economy in serious trouble. Many small businesses risk closure and, as a result, a large number of employees are no longer certain about the future. Medium and large companies are also trying to run for cover to avoid further economic losses and possible layoffs. The current crisis is so serious that even the banking and insurance giants are starting to falter. While being able to boast important capitalizations and solid internal organizations, even financial institutions could have serious repercussions. Their earnings are in fact linked to the national economy and with businesses and families in difficulty even large institutions suffer. The crisis has led to a contraction in loans, insurance and mortgages. And many banks are also facing rising delinquencies. The situation is so serious that an alarm comes from Parliament for the customers of Italian banks.
The COPASIR report
On the occasion of the annual report on the country’s strategic assets, the COPASIR highlighted an increasingly serious risk hanging over the national economy. The text licensed by the Parliamentary Committee is based on analyzes shared with the Bank of Italy, CONSOB, IVASS and the main Italian financial operators. According to this report, massive investment in strategic companies by foreign investors is increasingly likely. Germans and French above all, with a consequent loss of sovereignty in some essential areas for our economy. An alarm comes from Parliament for the customers of Italian banks and for the entire economy. A possible risk capable of further limiting the willingness to grant loans to customers. A situation that we have dealt with in a recent study. We therefore analyze the risks associated with a possible transfer of Italian financial institutions to foreign hands.
An alarm comes from Parliament for the customers of Italian banks
The risks identified by the economists who wrote the study are essentially two. The first relates to the financial stability of the Italian public debt. In fact, banks and insurance companies are among the main underwriters of government bonds issued by the government. Financial Institutions buy BOTs and BTPs even when they have minimal returns, thus giving constant support to the national economy. The second possible problem arises with the shifting of the huge private savings of families into the hands of foreign institutions. The latter, in the event of further economic crises, would respond to requests from their respective Governments. With potentially dangerous consequences for the state, businesses and citizens. The risks are still limited but an invitation to the Executive arrives from COPASIR to take appropriate legislative measures. Maneuvers capable of making any foreign takeovers to strategic companies for the future of the Italian economy more difficult.