In the context of the single currency the abundance of saving, which for many decades was one of the great strengths of the Italian economy, loses part of its value as a comparative advantage in fostering growth.
The new situation created by greater openness to cross-border financial flows calls in the first place for a strengthening of the efficiency and competitiveness of the banking system. BIS Review 14/1999  –7–  The response must be prompt and adequate in order to grasp the opportunities for growth and to finance profitable projects in Italy.