Journal of
Italian
Banking
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Archive » December 2024 » Savings as a civil and social virtue

Savings as a civil and social virtue

Antonio Patuelli
December 2024 - n. 12
Keywords: Risparmio, investimenti, etica
Jel codes: E20, G10, H10, O10

Savings well placed through banks is a decisive factor in development and employment and in the underwriting of public debt. It is a patient and wise civil and social virtue, connected to respect for the rules and a premise for private and collective utility. Italy must protect savings, distinguishing them from speculation, and the stability of savings both in liquidity-based instruments and in equities. The harmonisation of fiscal rules in Europe is desirable, since the heavy taxation in Italy often pushes Italian savers to invest abroad. A better regulation of innovations and artificial intelligence is needed to implement a new and urgent digital constitutionalism.

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