To talk about the third of Ciampi’s lodestars, public finance, we need to return to the three pillars of stability, more specifically to the non-monetary ones.
In recalling, years later, the events of the Spadolini administration, Ciampi underlined their importance: ‘the government programme that the Prime Minister […] presented to Parliament indicated that the reining in of public spending, together with the cost of labour, would be a fundamental part of the fight against inflation’.