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Riccardo Barbieri Hermitte, speaking from Italy, stated that
«the Government is aiming to lift real GDP growth above
1.6%” which is forecast for 2016 and to reduce the debt to
GDP ratio. Italy’s credibility is growing thanks to the fiscal
discipline which we have demonstrated, by controlling spen-
ding»
. Also Gregorio De Felice was optimistic and, in his
view, the outlook for the Italian economy is favourable and
the country’s GDPwill grow by more than 1% in 2016-2017.
«However,»
the economist added
«growth will be lower than
the 1.6% forecast by the Government and will stand at
around 1.2 and 1.4% respectively for 2016 and 2017»
. Mo-
nokroussos spoke of Greece in positive terms, illustrating
22
27
28
29
30
23
24
25
22.
Gerhard Dambach, CEO Southern Europe Bosch Group
and CEO Italy Robert Bosch;
23.
Armand Angeli,
IAFEI Organizing Committee and Area President EMEA ;
24.
Donato Iacovone, Managing Partner Med EY;
25.
Valerio
Nannini, Senior VP and Head of Strategy and Performance Nestlè;
26.
Sergio Lamonica, IAFEI Organizing Committee;
27.
Riccardo
Barbieri Hermitte, Chief Economist Ministry of Economics and
Finance of Italy;
28.
Gregorio De Felice, Head of Research and
Chief Economist Intesa Sanpaolo;
29.
Platon Monokroussos, Deputy
General Manager and Group Chief Economist Eurobank Ergasias;
30.
Panel Capital Markets and Crossborder Investments
According to Valerio Nannini, Senior VP, Head of Strategy
and Performance Nestlè, growth is becoming the lifeblood
of the global economy and the strategic priority of CEOs
and CFOs. On financial markets companies are increasing
their value thanks to innovation, but to achieve innovation
the main element must be passion. Entrepreneurship and in-
novation must become a single being.
Tax policy and debt sustainability
How sustainable is the debt? Howmuch can be paid back? Not
only public debt, but also household and business debt. Cur-
rencies and interest rates are positively influencing the GDP
of key countries in the euro zone and peripheral countries, but
the sustainability of sovereign debt is linked to stronger growth
prospects, greater flexibility in the growth and stability plan,
and the need for investment in innovations that can support the
creation of jobs and greater productivity. These issues were di-
scussed by the panel moderated by Sergio Lamonica, IAFEI
Organizing Committee, featuring Riccardo Barbieri Hermit-
te, chief economist at the Ministry of Finance and Economy,
the chief economist of the Intesa Sanpaolo Group Gregorio de
Felice and Platon Monokroussos, Deputy General Manager
and Group Chief Economist Eurobank Ergasias Greece.
IAFEI Quarterly | Issue 31 | 12