Ignazio Visco: Address at Ordinary General Meeting of Shareholders

Address by Mr Ignazio Visco, Governor of the Bank of Italy, at the Ordinary General Meeting of Shareholders, Rome, 31 March 2020.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Ladies and Gentlemen,

Italy, Europe, and the entire world are experiencing the same anxiety and difficulty that come with any unprecedented challenge. Aside from posing a deadly threat to public health and putting a severe strain on national health systems, the rapid spread of the Coronavirus disease (COVID-19) has transformed our daily lives, our work processes, the functioning of our schools and universities; the extent of the impact on the economic and financial system will be as wide as it is deep.

In carrying out its institutional functions, and in tandem with the other national institutions, the Bank of Italy has taken the necessary action to limit the economic repercussions of the pandemic. While the health of all of our staff is our absolute priority, we continue to guarantee the provision of essential services to the wider public.