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Meeting with Stefano Micossi

The Council organized a timely event in New York on “Italy and the Euro Crisis” on December 2, 2011.  The breakfast speaker was Stefano Micossi, Director General of Assonime (the Italian association of joint stock companies), Chairman of CIR (the De Benedetti Group industrial holding company), and Professor at the College of Europe in Bruges.  Speaking to a group of Council members and guests, Mr. Micossi offered a balanced assessment of Italy’s economic situation, pointing to the considerable progress that has been registered, inter alia on fiscal consolidation and labour regulation, while also enumerating many areas where reforms are needed.  Mr. Micossi praised  the Prime Minister Monti and his government for its efforts to bring about badly-needed change in Italy.  Turning to a broader European perspective, Mr. Micossi welcomed the steps being taken toward greater coordination of EU fiscal policy, complimented Chancellor Merkel on the actions taken within the political constraints she faces, and expressed satisfaction over the role played by the European Central Bank under Mario Draghi.