Intesa Sanpaolo CEO discusses public debt and wealth tax

Intesa Sanpaolo CEO Carlo Messina has expressed concern regarding the social impact of the economic crisis, noting that the bank has provided millions of meals to those in need. Messina emphasized that while charitable actions are helpful, the state must lead the fight against poverty and social inequality.

Addressing Italy's public debt, Messina identified adequate economic growth and Italian savings as the two pillars necessary for recovery. He cautioned that a wealth tax (patrimoniale) should be viewed as an extreme final resort if public debt is not managed effectively in the coming years, describing such a measure as a sign of defeat.

In response to debt management strategies, Minister Gualtieri stated that the government's approach involves short-term economic stimulus to mitigate pandemic repercussions, long-term development focused on innovation and sustainability, and prudent management of public finances to improve structural balances.