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Archive » July / August 2023 » Fighting inflation and supporting the economy: the role of banks

Fighting inflation and supporting the economy: the role of banks

Antonio Patuelli
July / August 2023 - n. 7-8
Keywords: Banche, imprese, regole, innovazione, etica finanziaria
Jel codes: G21, G28

Banks have no privileges and have made a decisive contribution to overcoming the corporate and sovereign debt crisis, recessions, pandemic and many other traumas. Strengthening their capital and efficiency, with a respectful social dialogue and a propulsive role for the economy. After ten years of zero interest rates, banks are now fighting the risks of inflation and aiming to encourage credit and productive savings and investments. The environmental and energy transition is strategic, but banks cannot replace institutions. Technological innovations require forward-looking contractual updates, protecting workers and competition. Innovation must be based on ethical principles, transparency, security, avoiding fraud and abuse, with the same rules for every player. Following the example of Raffaele Mattioli, rejecting the economy devoid of ethics and the absence of memory.

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