Having said this, however, recent experiences in the United States and elsewhere have underscored the importance of going about this task in a way that does not overextend the banking “safety net.” In the United States, this lesson was painfully conveyed during the 1980s and early 1990s by the hundreds and hundreds of bank and thrift failures that occurred in these years.
In fact, important structural policies have been put in place in Italy in recent years: for example, the pension reform and the labour market reform (the Jobs Act). However, there is still much to be done if our economy is to become modern and innovative.