Two cultures, a single goal
The speech by the Governor of the Bank of Italy on World Savings Day outlines the links between saving and good business culture
Savings as an investment tool. Saving as an act that succeeds in transferring resources from the present to the future, and an act of foresight and non-selfish attention. Savings also as an element of stability and a resource at the service of business investment as well as household wealth. Savings are important, at any rate, and appropriate when – of course – there are the means to accumulate them.
Fabio Panetta – Governor of the Bank of Italy – reasoned with lucidity and clarity on these matters in his speech a few days ago for World Savings Day 2024, the 100th since it was established.
Panetta analyses 100 years of “savings culture” intertwined with the life of the country, the changes in society, the economic challenges, and the elements that link savings to the rest of the economic and social system. “Savings and economic and social progress are closely linked,” says Panetta, who, after covering 100 years of Italian savings, emphasises how the solidity of the real economy is the “first safeguard of savings” and how this effectively contributes to the good health of the economy itself. The Governor of the Bank of Italy then recalls that the stability of the economy is not the only fundamental element for a good level of savings, but also that of institutions, currency and the financial system. On top of everything, Panetta also recalls the need for integrity and respect “for the highest ethical and professional values” of those entrusted with the savings of the public and businesses.
Savings are therefore a fundamental element for the future, indeed, a prerequisite for a culture of the future that is pivotal to a country’s social and economic progress. This culture, on closer inspection, goes hand in hand with the good business culture that is essential today more than ever and has many points of contact with the first.
Fabio Panetta’s speech indicates how savings are, after 100 years, still not only useful but important to develop, make known and appreciate.
Giornata Mondiale del Risparmio del 2024. 1924-2024 cento anni di cultura del risparmio
(World Savings Day 2024: 1924–2024, 100 years of savings culture)
Fabio Panetta
ACRI, Associazione di Fondazione e di Casse di Risparmio Spa
The speech by the Governor of the Bank of Italy on World Savings Day outlines the links between saving and good business culture
Savings as an investment tool. Saving as an act that succeeds in transferring resources from the present to the future, and an act of foresight and non-selfish attention. Savings also as an element of stability and a resource at the service of business investment as well as household wealth. Savings are important, at any rate, and appropriate when – of course – there are the means to accumulate them.
Fabio Panetta – Governor of the Bank of Italy – reasoned with lucidity and clarity on these matters in his speech a few days ago for World Savings Day 2024, the 100th since it was established.
Panetta analyses 100 years of “savings culture” intertwined with the life of the country, the changes in society, the economic challenges, and the elements that link savings to the rest of the economic and social system. “Savings and economic and social progress are closely linked,” says Panetta, who, after covering 100 years of Italian savings, emphasises how the solidity of the real economy is the “first safeguard of savings” and how this effectively contributes to the good health of the economy itself. The Governor of the Bank of Italy then recalls that the stability of the economy is not the only fundamental element for a good level of savings, but also that of institutions, currency and the financial system. On top of everything, Panetta also recalls the need for integrity and respect “for the highest ethical and professional values” of those entrusted with the savings of the public and businesses.
Savings are therefore a fundamental element for the future, indeed, a prerequisite for a culture of the future that is pivotal to a country’s social and economic progress. This culture, on closer inspection, goes hand in hand with the good business culture that is essential today more than ever and has many points of contact with the first.
Fabio Panetta’s speech indicates how savings are, after 100 years, still not only useful but important to develop, make known and appreciate.
Giornata Mondiale del Risparmio del 2024. 1924-2024 cento anni di cultura del risparmio
(World Savings Day 2024: 1924–2024, 100 years of savings culture)
Fabio Panetta
ACRI, Associazione di Fondazione e di Casse di Risparmio Spa