Even if financial innovation contributed to the instability of the financial system, it plays a social role in the economy on the basis of the following principles: the inter-temporal transfer of money value, the capability to construct contracts based on future results and the tradability of...

To overcome the crisis in a «real» and virtuous way, the preference should be accorded to measures to revive demand, increase the supply of goods and services provided by public administrations and keep markets open and competitive. The financial way to overcome the crisis is usually...

In 1982 Giovanni Goria became Treasury Minister. In that role he tried on his own, without the support of a united party and a coherent coalition, to carry out a plan for the rehabilitation of public finances, which he was able to delineate, not to deliver. As other Treasury Ministers, before...

Proposals for enforcing the supervision on multi-national groups are limited by the national responsibility that attains all supervisory authorities. The CRD directive do not regulate aspects related to politics and last international events support this thesis. The ancient dilemma between an...