Luigi Federico Signorini, Deputy Governor of the Bank of Italy, spoke today about the Italian economy on the occasion of the presentation of the Bank’s report on economic developments in Lombardy.
‘Even though the Great Recession is behind us and we hope to never see anything of that kind again, one day or another the economic cycle will start to worsen again. This is inevitable, and it has always been so. Today the markets are relaxed, monetary policy is exceptionally expansionary and interest rates are exceptionally low. These conditions cannot last forever. What we can do today is work to make our country stronger, more resilient and more capable of reacting to adverse economic cycles and to changes in market sentiment. We must continue down the path of structural reform and do what we can to start to lower the debt. In a nutshell, we must not miss this opportunity’.
