Speaking on the occasion of the participation of Commissioner Gentiloni in the Council of the Italian Banking Association, President Antonio Patuelli and General Manager Giovanni Sabatini expressed great appreciation for the Next Generation EU program, highlighting how "The European program represents a fundamental turning point in European policies : for the first time a common monetary policy is also accompanied by a common budgetary policy, with European resources - also collected on the market - destined to support investments and reforms for the countries most affected by the effects of the pandemic ”.
For Italy, the main recipient of these resources, it is essential to implement the PNRR by carrying out - on time and with the agreed deadlines - the planned investments and reforms, especially now that the consequences of the Russian-Ukrainian war have greatly reduced growth expectations. .
The implementation of the PNRR, supporting growth, will also contribute to the inalienable objective of debt reduction, to be pursued - as Commissioner Gentiloni correctly indicated - gradually and realistically.
President Patuelli and Director Sabatini represented to Commissioner Gentiloni that banks operate in support of the implementation of the PNRR to encourage the contribution of private resources (in the form of credit or capital) alongside public ones to activate new investments.
President Patuelli and Director Sabatini concluded by stating that "In order for the action of banks to fully unfold the positive effects it is necessary that the regulation on banks, in pursuing the objective of stability, constantly takes into account the objective of economic growth and does not create obstacles to the essential role played by the banking world, that is, of supporting families and businesses ".