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Born in Bari on 6 January 1949.
Current position: from 10 May 2013, Deputy Governor of the Bank of Italy. In this capacity, he stands in for the Governor during the latter's absence; has authority for the Bank's ordinary administration.
He is also President of the Insurance Supervisory Authority (IVASS).
2013: named to the "Working Group on Economic, Social and European Issues" (so-called "Group of Wise Men") established by the President of the Republic Giorgio Napolitano.
2012-2013: member of the Governing Board and Deputy Director General of the Bank of Italy.
2011: Secretary General of the Bank of Italy and Advisor to the Governing Board for economic policy matters.
2007-2011: Managing Director for economic research and international relations.
1997-2007: Deputy Head and then (from 2000) Head of the Economic Research Department. In this role, he represented the Bank on committees and working groups at public and private institutions in Italy and within the main international organizations.
He has held courses at various universities, notably Tor Vergata University in Rome and Aldo Moro University in Bari.
He is a member of the Steering Committe of the Italian Strategic Fund, the Foundation Board of the International Center for Monetary and Banking Studies in Geneva, the executive committees of the Italian Economic Society and the Einaudi Institute for Economics and Finance, the Istituto Affari Internazionali, the board of directors of Istituto Adriano Olivetti, and the Eurosystem IT Steering Committee.
He graduated in mathematics from the University of Bari in 1974 with a thesis in mathematical physics; in 1975 he won a National Research Council fellowship for applied mathematics. He was visiting scholar at the IMF and the Department of Economics of MIT.
He is the author of many essays on the international economy, economic history and policy, and industrial economics. His published books are on topics including the integration of European markets, the Italian balance of payments and economic policy, the ICT revolution, the way out of the Italian economy's growth crisis, and the Italian economy in the global crisis:
Competere in Europa (ed.), Il Mulino, Bologna, 1993
La bilancia dei pagamenti: i conti con l'estero dell'Italia, la lira, i problemi dell'unione monetaria europea, with R.S. Masera, CEDAM, Padua, 1993
La politica economica italiana 1968-1998, Laterza, Rome-Bari 1998, revised editions 2000, 2003, 2007
La nuova economia: i fatti dietro il mito (ed.), Il Mulino, Bologna, 2003
La regina e il cavallo. Quattro mosse contro il declino, Laterza, Roma - Bari, 2006
Controtempo. L'Italia nella crisi mondiale, Laterza, Roma - Bari, 2009
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