Trade and Commerce

Italy and Rome

LGS “Augusto”

Italy’s Economy - FiguresRATIO DEBT/GNP (GROSS NATIONAL PRODUCT)

•6% per year increase since 2011,the second in the Eurozone, second only to Greece. This means that the Italian public debt is around 2076 Euro’s billion. (source “il Sole 24 ore”, an Italian economic journal)

RATIO DEFICIT/GNP

•In 2009, at the start of the international crisis ,the ratio was 5,45%.

•In 2013 it was 2,88% , under the limit of 3%, set by Maastricht Treaty (1992)

INFLATION

• The Central European Bank fixed a limit level of 2%.

•In 2013 In Italy the inflation was 1,3%.

•The bigger this level is, the more expensive services, taxes and groceries prices are

Some more figures

UNEMPLOYMENT•In 2013 it was 12,2%. It meant one Italian out of ten did not have a job.

ECONOMIC DEVELOPMENT •Italian GNP decreased of 2,4% in 2012 and of 1,9% in 2013.

TAX EVASION •according to ISTAT the Italians don’t pay taxes for 275 billion euros per year.

PUBLIC EXPENSE •It has raised up to 69% in the last 15 years and now it’s 727 billions.

Rome’s economy - Figures

According to ISTAT in Rome there are: • 13,31% of the Italian factories registered to the “Camera di Commercio”. • 461.205 businesses (30th June 2013), with an increase of 0,7 (457,875) from December 2012 .•Let’s compare the sectors of production where the Italians and the Romans work.

From this graphic we see how unemployment in Rome is decreasing compared to that of Italy.

The Italian Cental Bank

The Italian Cental Bank – Banca D’Italia – developed over time, progressively acquiring new and increasingly complex functions.•1893 – It was founded as part of an overall reorganization of Italy’s banks of issue. •1926 – It was authorized to issue banknotes.•1936 – It was given it powers of banking supervision and was formally recognized as a public institution with an Act of Parliament. •1947 – it helped the stabilization of the lira.

The Italian Cental Bank

• 1947 – It helped the stabilization of the lira. •1948 - The Constitution stated the principle of the “protection of savings.”• 1970s – The lira became part of the international monetary system. A stronger legal warranty for the central bank independence supported disinflation.• 1992 – The renewed stability of the currency and the adjustment of public finances enabled Italy to comply with the standards set by the Treaty of Maastricht•1993 – The Consolidated Law on Banking was enacted.

The state Mint• 1928 – The Poligrafic Institute and State Mint” was

created • 1958 – It took the name of “ Zecca”. • 1982 – It was the first one to mint a coin with two

types of metal. • Its first location was on the Esquilino hill near Termini

Railway Station. • Nowadays its headquarters are in Via Salaria. • There are also two other branches one near our

school, the other one near Termini Railway Station. • It can only mint euro coins, but it also mints coins for

Vatican City and San Marino.

A self-made Italian businessman• Nazzareno Noro is a 68 –year-old, engineer, who

started as a calculator seller in Olivetti.

• In 1970 he became entrepreneur and co-founded a

company emergency lights.

• Some years later he founded DIEL, his own provider of

communications and infrastructure solution.

• He would later sell it, at the height of it success, to an

American worldwide company, Black Box Corporation.

• Now he has a company working in renewable energies

and industrial patents.

• In this interview Nazzareno tells us about Italy,

starting from the economic boom to the present.