The role of the Government will increase, both in the financial and in the real sector. The only hope left is that this role will remain indirect, rather than direct, and that it will be of limited duration! •  The role of financial sector supervision will gain strength, both locally and in the EU.
In Italy, as in other countries, the quality of bank loans deteriorates during recession. In 2009 the loan losses of our five largest banking groups absorbed almost 70 per cent of their operating results; their profits fell by over a fifth.