The Italian economy was among the most dynamic in the euro area, benefiting from the trend of tourism, while industrial production weakened. Despite the events of recent years, banks are in much better shape. Credit quality is good and profitability is growing. The government is monitoring the impact of financing conditions on the economy, looking in particular at housing and household savings. Banks need to raise awareness among companies about the credit impacts of Esg criteria. We need a team game between public and private, with banks responsibly taking charge of the social sustainability of shocks on the economy.
