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Archive » December 2024 » Savings as a driver of economic and social progress

Savings as a driver of economic and social progress

Fabio Panetta
December 2024 - n. 12
Keywords: Risparmio, crescita, stabilità monetaria e finanziaria
Jel codes: E20, G10, H10, O10

Savings provide stability for households and resources for business investment. They are closely linked to economic and social progress: a strong system grows and invests, generating jobs, income and opportunities to use savings. The protection of savings rests on three pillars: the soundness of the real economy, monetary stability and financial stability. The global economy is experiencing a period of uncertainty and weakness, with worrying trends: conflicts, the fragmentation of global trade, countries dividing into opposing blocs, demographic developments and Europe losing influence in international relations. Profound reforms and unity of purpose are needed. Protecting savings requires not only careful supervision of banks, but also greater financial literacy and safeguards against cyber risks.

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