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03/04/2009

The Italian daily Corriere della Sera emphasises the fact that divisions have been overcome to reach an agreement, and presents the US, the UK and China as winners. In its editorial, Corriere praises the fact that a 'bearish' compromise has been avoided.

Repubblica says in its editiorial that concrete measures were taken and that they went beyond expectations.

Il Sole 24 Ore reports that a 'historic agreement has been reached' and emphasises measures taken to ban tax havens and include Switzerland in the 'grey list'. In its editorial, Sole says that the summit was 'a success with no winners or losers.'

Messaggero says that the summit ended with a better result than expected and that the European line prevailed. It also emphasises Berlusconi's announcement that he wants the forthcoming G8 to focus on social issues and on labour in particular.

Il Giornale focuses on 'extraordinary measures' taken, which will 'make it possible for us to rescue millions of jobs.'

18/03/2009

Corriere Della Serra and La Repubblica report that Mario Draghi, Governor of the Bank of Italy, has given a clear ‘keep your hands off’ message against political meddling in the banking system. Speaking in the parliament, he said: 'We need to avoid political and administrative interference in bankers' work and they have to know how to be bankers even in times when the economy is going badly.'

17/03/2009

Il Manifesto highlights the G20 Finance Ministers agreement to do 'anything necessary to stimulate growth'. Every country will now try to come up with what it can, careful not to tear the fragile veil of free trade with measures that could look too openly protectionist. It says proposals that could lead to more stringent global governance have remained in 'the heaven of good intentions'.

16/03/2009

Andrea Bonanni in Repubblica examines the arguments over whether the London Summit should focus on stricter rules for financial markets or an increased stimulus for the economy, On the one hand, the US has already launched a $700bn anti-crisis plan and asks other countries to make a similar effort. On the other, the Europeans believe they have done more than enough to stimulate their economies and are determined to persuade the US to accept the establishment of a global financial market governance system.

02/03/2009

Corriere della Serra reports that Silvio Berlusconi has repeated his message that the Italian banks are not touched by the problem of toxic assets and states that banks must give better access to credit. The Italian leader states that only one bank has expressed an interest in the ‘Tremonti bonds’

Il Messaggero says that Snr Berlusconi has proposed a census of each country's risky assets.

24/02/2009

The Italian press has welcomed the outcome of the Berlin summit, with agreement among the European members of the G20 on general moves for reform of the financial system. Prime Minister Sylvio Berlusconi has said that the Italian banking system is in better situation than others but nevertheless is pushing Italian banks to take advantage of “Tremonti bonds” – a state scheme to strengthen banks’ capital.

20/02/2009

In a joint article in Il Sole 24 Ore, Prime Minister Silvio Berlusconi and Gordon Brown (who was visiting Rome) said the priorities for the London Summit in April and the G8 Summit on La Maddalena in June were the need to stabilise the financial markets, financial sector reform and eco-sustainable development.

16/02/09

Emma Marcegaglia, Chairman of the business federation Confindustria, warned that the financial crisis was putting Italy’s industrial base at risk and said she hoped for "clear decisions" at the London Summit.

06/02/09

Putting forward his country's G8 Presidency proposals to establish an international ethical legal standard, Italian Economy Minister Giulio Tremonti said: 'The G8 is honestly too small, although the G20 is still too unbalanced, for example, between Africa and Latin America. Our plan is to co-operate with the G20.'

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