Paolo Savona
Paolo Savona (born October 6, 1936 in Cagliari , Sardinia ) is an Italian financial and economist , politician and university professor . From 1980 he held leading positions in various Italian banks . From April 28, 1993 to April 19, 1994 he was a non-party Minister for Industry, Trade and Crafts in the Ciampi Cabinet , and from June 2018 to February 2019 he was the non-party Minister for European Affairs in the Conte I cabinet . On February 5, 2019, the Italian government appointed him President of the Consob Securities and Exchange Commission .
Life
In 1961, Savona graduated from economics with the distinction cum laude . He deepened his knowledge of monetary policy at the Massachusetts Institute of Technology . In 1963 he began his career in the research department of the Banca d'Italia , where he rose to the rank of director. In 1976 he took over the Chair of Economics at the University of Cagliari ; later he took on teaching positions at other universities in the country, including the Libera Università Internazionale degli Studi Sociali . Also in 1976, under the presidency of Guido Carli, he became general director of the Italian employers ' organization Confindustria . He held this position until 1980. From 1980 to 1989, Savona served as chairman of the Banca di Credito Sardo . At the same time, from 1980 to 1982 he was Secretary General for Economic Planning in the Italian Ministry of Commerce. From 1989 to 1990 he was CEO and Managing Director of Banca Nazionale del Lavoro , from 1990 to 1999 and from 2010 to 2014 President of the Italian deposit insurance fund Fondo Interbancario di Tutela dei Depositi . From 2000 to 2010 he was President of Salini Impregilo and the companies Gemina, Aeroporti di Roma and Consorzio Venezia Nuova, as well as a board member of the companies RCS MediaGroup and Telecom Italia . When he was vice president of the banking group Capitalia and it merged with UniCredit in 2007 , he became president of Banca di Roma .
In 1993/1994 he was a member of the government of Carlo Azeglio Ciampi as Minister of Industry. In the Berlusconi III cabinet , he served as Head of Department for EU Policy in the Council of Ministers, and as coordinator of the technical committee for the Lisbon Strategy .
Other positions that Savona held during his career were the offices of a member of the OECD Committee for Standardization and Financial Statistics and a member of the Italian Commission for Nuclear Energy.
Savona published a variety of writings on the real economy, money and finance. From a scientific point of view, he rejected the Maastricht Treaty because the stability criteria it laid down would damage the Italian economy. He made a name for himself as a critic of the European Economic and Monetary Union in other statements . Under the title Guida Pratica all'uscita dall'Euro (German: Practical Guide to Exiting the Euro ), also known as Plan B , in 2015 he developed a concept for Italy's exit from the Eurosystem and the introduction of a new Italian currency. The concept proposes (with the exception of liabilities to the International Monetary Fund ) a default for the national debt and negative TARGET2 balances of Italy. With reference to a publication by Hans-Werner Sinn , Savona assesses the legal basis for any claims to settle the TARGET2 balances as weak.
In May 2018, the party leaders of MoVimento 5 Stelle and Lega Nord proposed him for the post of Italian Minister of Economics and Finance. However, the Italian President Sergio Mattarella refused to appoint him, pointing to the risk of worrying the financial markets and the resulting disadvantages for Italian savers and companies . As a result, the non-party attorney and university professor Giuseppe Conte , who was nominated for the office of Prime Minister, immediately returned the mandate he had been given to form a new Italian government. On June 1, 2018, Savona was sworn in by Mattarella as Minister for European Affairs in the Conte cabinet, after the party leaders of MoVimento 5 Stelle and Lega Nord had agreed to submit a new cabinet list to the Italian President von Conte, after which Savona did not held the office of Minister of Economics and Finance, but Giovanni Tria . A few days as European Minister in office, Savona announced that the euro was "indispensable" for Italy. He praised Germany, which he had accused of not having changed its role in Europe after National Socialism , as a “great country, culturally, economically and politically”.
On February 5, 2019, the Italian government appointed Paolo Savona as the new President of the Consob Securities and Exchange Commission . In view of Savona's previous professional positions, the opposition sharply criticized the appointment and spoke of an obvious incompatibility. Prime Minister Conte took over Savona's duties as European Minister.
Web links
Individual evidence
- ^ Daniel Gros: How to exit the euro in a nutshell - 'Il Piano Savona' . Website in the portal ceps.eu ( Center for European Policy Studies ), accessed on June 5, 2018
- ^ Fabio Lugano: Il “Piano B per l'Italia” nella sua interezza! , Website in the scenaieconomici.it portal , accessed on June 5, 2018
- ↑ Conte sworn in: Italy has a new government , article from June 1, 2018 in the portal tagesschau.de , accessed on June 1, 2018
- ↑ The Finance Minister, who scares Germany , article from May 24, 2018 in the focus.de portal , accessed on June 13, 2018
- ↑ Italian Minister Savona calls the euro “indispensable” , article from June 13, 2018 in the portal spiegel.de , accessed on June 13, 2018
- ↑ Press release on February 5, 2019 by the Prime Minister
- ↑ Lega-5Stelle: Savona a capo della Consob. Insorgono le opposizioni: “Incompatibile” . business.it February 5, 2019
| personal data | |
|---|---|
| SURNAME | Savona, Paolo |
| BRIEF DESCRIPTION | Italian finance and economist, politician and university professor |
| DATE OF BIRTH | October 6, 1936 |
| PLACE OF BIRTH | Cagliari , Sardinia |