From currency to society and business
An address from the Governor of the Bank of Italy indicates the common thread running through economy, civil life and production.
Business culture extends beyond factories and offices, to the economy more broadly speaking and, on closer inspection, to every expression of the world. It means awareness of where you are, where you came from and where you’re going. This is why good businesspeople and good managers need a capacity for observation, knowledge of the past as well as the present and, above all, the curiosity to look out from their office windows – to broaden their horizons. Reading one of the latest contributions from the Governor of the Bank of Italy, Fabio Panetta, serves precisely this purpose.
He addressed the subject “Beyond money: the euro’s role in Europe’s strategic future” on 26 January 2024 in Riga as part of Ten years with The euro, a subject only apparently distant from the topics of production organisations and the culture of production. Talking about the euro, and talking about it beyond its scope as currency, instead means talking about a community that has built up over time and its great significance in all facets of civil life. This also relates to the economy and well-being.
Panetta considers three aspects in his discussion of the euro: the importance of its international role beyond the economy in the strict sense, the change in this role over time and, finally, the path that needs to be taken to strengthen it.
The Governor of the Bank of Italy explores each of these issues, looking at them above all in terms of their significance for European cohesion and security. He describes how they have evolved and become stronger, attempting to outline the potential tools to consolidate precisely the “strength” of the euro as an instrument of cohesion and protection.
Panetta concludes: “In times of geopolitical tensions, [the EMU (Economic and Monetary Union)] functions as a collective defence clause: any attack against a member affects the single currency, a crucial aspect of our shared sovereignty, and is consequently an attack against the entire Union.” The Governor’s final statement is also wonderful: The euro “embodies [the] desire to walk and work together on the world stage.”
Oltre i confini della moneta: il ruolo strategico dell’euro nell’Europa del futuro (Beyond money: the euro’s role in Europe’s strategic future)
Fabio Panetta
Address at the Ten years with the euro conference
Riga, 26 January 2026
An address from the Governor of the Bank of Italy indicates the common thread running through economy, civil life and production.
Business culture extends beyond factories and offices, to the economy more broadly speaking and, on closer inspection, to every expression of the world. It means awareness of where you are, where you came from and where you’re going. This is why good businesspeople and good managers need a capacity for observation, knowledge of the past as well as the present and, above all, the curiosity to look out from their office windows – to broaden their horizons. Reading one of the latest contributions from the Governor of the Bank of Italy, Fabio Panetta, serves precisely this purpose.
He addressed the subject “Beyond money: the euro’s role in Europe’s strategic future” on 26 January 2024 in Riga as part of Ten years with The euro, a subject only apparently distant from the topics of production organisations and the culture of production. Talking about the euro, and talking about it beyond its scope as currency, instead means talking about a community that has built up over time and its great significance in all facets of civil life. This also relates to the economy and well-being.
Panetta considers three aspects in his discussion of the euro: the importance of its international role beyond the economy in the strict sense, the change in this role over time and, finally, the path that needs to be taken to strengthen it.
The Governor of the Bank of Italy explores each of these issues, looking at them above all in terms of their significance for European cohesion and security. He describes how they have evolved and become stronger, attempting to outline the potential tools to consolidate precisely the “strength” of the euro as an instrument of cohesion and protection.
Panetta concludes: “In times of geopolitical tensions, [the EMU (Economic and Monetary Union)] functions as a collective defence clause: any attack against a member affects the single currency, a crucial aspect of our shared sovereignty, and is consequently an attack against the entire Union.” The Governor’s final statement is also wonderful: The euro “embodies [the] desire to walk and work together on the world stage.”
Oltre i confini della moneta: il ruolo strategico dell’euro nell’Europa del futuro (Beyond money: the euro’s role in Europe’s strategic future)
Fabio Panetta
Address at the Ten years with the euro conference
Riga, 26 January 2026