Luigi Einaudi was a well-known economist in Italy and abroad, a very prolific journalist, a great public figure particularly after the end of the Second World War. As his thoughts and writings were permeated with a solid liberalism, he was keen on looking for constraint on the State's absolute...

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...

The paper traces the principle of monetary stability throughout the political and cultural debates, which Luigi Einaudi contributed to since 1943, and the discussions in the Sub-Committees, the Committee and the full House of the Constituent Assembly in 1946-47 up to the approval of the Charter....

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...

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...

The article is a revised version of a speech the author gave at a conference in memory of Paolo Baffi, former Governor of Italy's Central Bank. The author recalls his personal experience at the Banca d'Italia and his intellectual exchanges with the Governor and other leading officers, within the...

Up to now, the G20 has supervised the process to revitalize the real economy affected by the Great Recession through fiscal stimuli and a very easy monetary policy, and to rescue the battered financial system by injecting capital into giant banks and firms. The G20 is now turning its attention...

The article, in memory of Ezio Tarantelli, discusses the relevance today of a number of his ideas and proposals on economic policy. Among these, the reduction of working time and the opportunity to create a European currency that would finance the European Social Fund with the aim to fight...

Articolo originariamente pubblicato in Moneta e Credito, vol. 57 n. 227, settembre 2004, pp. 233-277.

Despite the launch of a new strategy for growth in Europe (the Europe 2020 strategy) and the ongoing efforts to design a new international financial architecture, prospects for an economic recovery of Europe remain dim. Public deficits and debts will have to be reduced at a faster pace, with...