A clear picture for a better and deeper understanding
Our reality as described by the director of the Bank of Italy
A well executed and well explained economic and social study aimed at developing awareness and culture (including corporate culture). A condition to be attained and then safeguarded, as well as fostered through good reading. Such is the essence of “Assicurare la ripresa” (“How to guarantee the recovery”), a contribution by Luigi Federico Signorini, CEO of the Bank of Italy and president of IVASS, the Italian Insurance Supervisory Authority, recently published by the Bank and offering a significantly valuable overview of Italy’s current economic situation and prospects.
Signorini does not mince words and his piece is extremely clear. He immediately starts, as an economist would, with a few figures, to describe the situation; he then relates these figures (obtained from real life, not through theoretical equations), to the reality experienced by companies and individuals, which includes issues to be tackled and, of course, the circumstances generated by the COVID-19 pandemic. Concrete, rather than theoretical, economy then, which entails dealing with the raw material and the energy crises, as well as the expectations of those directly involved and the hopes of those others (pretty much everyone) who would like to see a different future. Hopes that, somehow, might actually be fulfilled, despite the many doubts raised, weighed up and properly contextualised by the author. The same is with risks – “Supporting families and companies in risk management activities“, we are told, “is one of the factors that can best contribute to the growth of social welfare and competitiveness in the economic system.”
Clarity, then, above all. To suitably differentiate between “forecasts” and actual “facts”, for instance, to properly distinguish suppositions from certainties. The article also includes an assertion that, far from undermining this, is rather further proof of the author’s earnestness: “Uncertainty around this growth scenario is very high.”
Hence, Signorini paints a crystal-clear picture of reality, a much needed and useful tool to further understand where we stand and the direction we might take. As said above, an excellent reading to develop one’s self-aware culture.
Assicurare la ripresa (“How to guarantee the recovery”)
Luigi Federico Signorini
Contribution to the Swiss Re webinar of 19 January 2022
Our reality as described by the director of the Bank of Italy
A well executed and well explained economic and social study aimed at developing awareness and culture (including corporate culture). A condition to be attained and then safeguarded, as well as fostered through good reading. Such is the essence of “Assicurare la ripresa” (“How to guarantee the recovery”), a contribution by Luigi Federico Signorini, CEO of the Bank of Italy and president of IVASS, the Italian Insurance Supervisory Authority, recently published by the Bank and offering a significantly valuable overview of Italy’s current economic situation and prospects.
Signorini does not mince words and his piece is extremely clear. He immediately starts, as an economist would, with a few figures, to describe the situation; he then relates these figures (obtained from real life, not through theoretical equations), to the reality experienced by companies and individuals, which includes issues to be tackled and, of course, the circumstances generated by the COVID-19 pandemic. Concrete, rather than theoretical, economy then, which entails dealing with the raw material and the energy crises, as well as the expectations of those directly involved and the hopes of those others (pretty much everyone) who would like to see a different future. Hopes that, somehow, might actually be fulfilled, despite the many doubts raised, weighed up and properly contextualised by the author. The same is with risks – “Supporting families and companies in risk management activities“, we are told, “is one of the factors that can best contribute to the growth of social welfare and competitiveness in the economic system.”
Clarity, then, above all. To suitably differentiate between “forecasts” and actual “facts”, for instance, to properly distinguish suppositions from certainties. The article also includes an assertion that, far from undermining this, is rather further proof of the author’s earnestness: “Uncertainty around this growth scenario is very high.”
Hence, Signorini paints a crystal-clear picture of reality, a much needed and useful tool to further understand where we stand and the direction we might take. As said above, an excellent reading to develop one’s self-aware culture.
Assicurare la ripresa (“How to guarantee the recovery”)
Luigi Federico Signorini
Contribution to the Swiss Re webinar of 19 January 2022