Securing EU recovery funds, political stability, debt to GDP ratio, energy costs, and inflation are some of the most urgent challenges facing Italy today. What is the emerging picture – especially considering the Italian presidential elections? What is the current situation in the country? Rector of Luiss Guido Carli University Andrea Prencipe shared his thoughts in an interview with “BusinessLIVE”, a South African news website focused on finance and business news, financial markets and political economy, among other topics.
“This is a very challenging time for Italy”, said Andrea Prencipe: “Colleagues from political science tell me the presidential election is a kind of nested games. If Mario Draghi is being elected as president this drags with it the premiership”. At the same time, “political parties have been discussing issues regarding the electoral system, so there are a few games being played at the same time”, the Rector added.
As emerged during the interview, this situation came at a time when Italy has “geopolitical pressure, which results, as we’re seeing, in the increase in energy cost”, Andrea Prencipe pointed out: according to him, indeed, “being Italy a large manufacturing country – the second largest in Europe in fact – it does get hit by this geopolitical dynamic. We do hope that we can snatch this opportunity to turn the challenges into real opportunities and lay the foundations, thanks to the funding available by the PNRR, the foundation for a new institutional framework”.
During the interview with “BusinessLIVE”, the Rector of Luiss Guido Carli University also addressed the topic of stability in Italian politics, a situation that “is very well perceived in Italy by the firms, the industrial system, the university system and by people at large”: “There is a kind of wind of optimism that is affecting Italy right now because of the stability in a way created by the Draghi government”, he explained.
The interview concluded with a reflection on the future and how to make sure that young generations get prepared to it: according to Andrea Prencipe, we have the opportunity to create a new industrial system and “if we are able to merge this optimism together with the opportunity created by the PNRR, surely Italy can be on a sure-fire development path”. Lastly, he stressed that the importance of investments impacting also in the educational system: “We’ve been hearing and discussing a lot about the new professions and the new nature of jobs that are being played out after this pandemic. A big and important investment along the educational system is fundamental: this entails also redefining the vocational training system, with the so-called ITS – Istituti Tecnici Superiori, but at the same time an institutional framework for the university, which is fundamental to make sure that our young generations get prepared to interpret and act upon reality”.
Watch the full interview: