President Sergio Mattarella told
a delegation from the Institut International d'Etudes Bancaires
(International Institute of Banking Studies - IIEB) on Friday
that a proper banking system is key to sustainable development.
The IIEB groups the chairmen and chief executives of
Europe's top finance houses.
"An efficient, stable and inclusive banking system is an
essential component for the sustainable development of our
countries," he said in remarks at the Quirinal presidential
palace.
Trust is key to the functioning of financial markets, he
added.
"In order to recover it, we must pay ever more attention to
transparency and sound behavior," he said. "It is essential
that...the banking system not lose sight of its reason for
being, its fundamental role, which is to enure efficient credit
allocation to the economic and social system, thus contributing
to the development and equal distribution of resources".
Mattarella added that new banking regulations in the EU
"must consider the aims of an inclusive finance oriented towards
supporting growth".
"Current low interest rates...are a precious opportunity to
relaunch investments," Italy's president said.
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