ROME (ITALPRESS) – “In the ups and downs of meeting individual and collective needs, setting aside resources has allowed families to deal with extraordinary, unpredictable and unforeseen situations and make long-to-medium term investments such as for housing, children’s education, and starting businesses. Savings, with the intermediation of banks, serves – has served – to fuel credit. It serves – has served – to finance the debt of the state.” Thus the President of the Republic, Sergio Mattarella, speaking at the 100th World Savings Day organized by Acri. “And this, indeed, was one of the controversial issues raised by economist Maffeo Pantaleoni, during his speech at the 1924 event, which ended, tragically, with his death. The question posed by Pantaleoni was: is it right for the state to finance itself with savings or, rather, should it be directed to other uses he deemed more directly productive? What, in any case, seems evident is the nature, at the same time, of individual and public good represented by savings,” the head of state adds. “Numerous commentators have observed that Article 47 of the Constitution, dedicated, precisely, to savings, unlike other articles of the so-called economic Constitution, appears to lack a specific purpose: why encourage and protect savings? For what reason? Actually,” the head of state continues, “a complete reading of the norms dedicated to economic relations makes it clear that savings is functional to the other objectives defined by the Charter, increasing the need for public intervention to protect it. Again, Article 47 of the Charter provides for the exercise of credit to be regulated, coordinated and controlled, emphasizing the existing relationship between savings and credit; and the existing public interest in credit intermediation. “For Mattarella, “the fight against inflation, the protection of the real value of savings are priority commitments for any state and, in particular, for our Republic. Encouraging savings, to refer to the constitutional provision, means encouraging it as an important source of the economic process,” he added.
– Quirinal press office photo –
(ITALPRESS).
