Istituto per la Ricostruzione Industriale

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Istituto per la Ricostruzione Industriale , commonly known by the acronym IRI known was a 1933 by the fascist Italian founded Government state holding company headquartered in Rome , the main Italian banks ( commerciale Banca , Credito Italiano and Banco di Roma ) prior to bankruptcy to save .

As a result of the First World War , production in the heavy machinery sector was artificially inflated. Some important companies (e.g. Ilva 1921 and Ansaldo 1923) had already got into financial difficulties. To grant state subsidies to industry, a special autonomous section of a banking consortium was set up in 1922 , which was supposed to award public subsidies in return for participation. Because of the global economic crisis in 1929, the risk of bankruptcy of the large Italian private banks due to the ailing industry was assessed as very high. To reduce this risk, a liquidation institute was set up in 1926, which acquired the three banks for the government, which in turn controlled numerous industrial companies. The IRI emerged from this in 1933.

In this way, the IRI - and with it the Italian State - became the owner of around 20% of the national share capital and large entrepreneurs (e.g. with Italsider in the steel , shipbuilding and automotive sectors with Alfa Romeo ) in the Italian banking sector.

Initially, the IRI era was viewed as a makeshift limited to the liquidation of the acquired activities, but in 1937 the government transformed IRI into a permanent public company. This decision was confirmed by the later democratic governments who expanded and reorganized the commercial sector of IRI, which became a state holding company.

In 1964 it established its CSELT (Centro Studi E Laboratori Telecomunicazioni) research center.

In 1987, IRI sold Alfa Romeo to Fiat SpA. Since 1993 the Italian government has pursued a policy of privatizing the approximately 600 state-owned industrial holdings. The IRI was officially dissolved on June 28, 2000, following the example of the German Treuhandanstalt , and the remaining holdings (e.g. RAI (television), Fincantieri (shipyards) or Cofiri (financial services)) were transferred to Fintecna , a company owned by Italian Ministry of Finance .

literature

  • Valerio Castronovo: Storia dell'Iri . Editori Laterza, Roma-Bari 2012. ISBN 9788842098560
  • Vera Lutz: Italy: A Study in Economic Development . Oxford University Press, Oxford 1962.
  • Pasquale Saraceno: Il sistema delle imprese a partecipazione statale nell'esperienza italiana . Giuffrè, Milan 1975.
  • Bruno Amoroso, OJ Olsen: Lo stato imprenditore . Laterza, Bari 1978.
  • Nico Perrone : Il dissesto programmato. Le partecipazioni statali nel sistema di consenso democristiano . Dedalo, Bari 1992.