We hope for the rapid passage of the enabling law now before Parliament in order for the Government to issue the necessary decrees to adapt Italy’s legislative framework to this new phase of Banking Union. * * * Economic regulation cannot ignore market mechanisms. Experience teaches that top-down directives are unlikely to hit upon the best paths of growth.
There are cases in which public intervention does not work to the benefit of the community and distorts the allocation of resources. Wealth cannot be produced by law, nor can stable jobs be created. And budget constraints cannot be ignored except at the cost of severe damage.