Italy's economy has seen steady growth since 2011, with its public debt reaching over 2 trillion euros. While inflation has remained below the 2% target, unemployment remained high at 12.2% in 2013. Both Italy's and Rome's GDP decreased in 2012 and 2013, though unemployment in Rome has been falling compared to national rates. The Bank of Italy was established in 1893 and has since taken on central banking responsibilities like currency issuance, banking supervision, and helping stabilize the lira. It works to maintain price stability and protect savings. The State Mint produces euro coins for Italy as well as Vatican City and San Marino.

1. Trade and Commerce
Italy and Rome
LGS “Augusto”

2. Italy’s Economy - Figures
RATIO DEBT/GNP (GROSS NATIONAL PRODUCT)
•6% per year increase since 2011,the second in the Eurozone,
second only to Greece. This means that the Italian public debt is
around 2076 Euro’s billion. (source “il Sole 24 ore”, an Italian economic journal)
RATIO DEFICIT/GNP
•In 2009, at the start of the international crisis ,the ratio was
5,45%.
•In 2013 it was 2,88% , under the limit of 3%, set by Maastricht
Treaty (1992)
INFLATION
• The Central European Bank fixed a limit level of 2%.
•In 2013 In Italy the inflation was 1,3%.
•The bigger this level is, the more expensive services, taxes and
groceries prices are

3. Some more figures
UNEMPLOYMENT
•In 2013 it was 12,2%. It meant one Italian out of ten did not
have a job.
ECONOMIC DEVELOPMENT
•Italian GNP decreased of 2,4% in 2012 and of 1,9% in 2013.
TAX EVASION
•according to ISTAT the Italians don’t pay taxes for 275 billion
euros per year.
PUBLIC EXPENSE
•It has raised up to 69% in the last 15 years and now it’s 727
billions.

4. Rome’s economy - Figures
According to ISTAT in Rome there are:
• 13,31% of the Italian factories registered to the
“Camera di Commercio”.
• 461.205 businesses (30th June 2013), with an
increase of 0,7 (457,875) from December 2012 .
•Let’s compare the sectors of production where
the Italians and the Romans work.

6. From this graphic we see how unemployment in Rome is decreasing compared to that of Italy.

7. The Italian Cental Bank
The Italian Cental Bank – Banca D’Italia – developed
over time, progressively acquiring new and
increasingly complex functions.
•1893 – It was founded as part of an overall
reorganization of Italy’s banks of issue.
•1926 – It was authorized to issue banknotes.
•1936 – It was given it powers of banking supervision
and was formally recognized as a public institution
with an Act of Parliament.
•1947 – it helped the stabilization of the lira.

8. The Italian Cental Bank
• 1947 – It helped the stabilization of the lira.
•1948 - The Constitution stated the principle of
the “protection of savings.”
• 1970s – The lira became part of the international
monetary system. A stronger legal warranty for
the central bank independence supported
disinflation.
• 1992 – The renewed stability of the currency and
the adjustment of public finances enabled Italy to
comply with the standards set by the Treaty of
Maastricht
•1993 – The Consolidated Law on Banking was
enacted.

9. The state Mint
• 1928 – The Poligrafic Institute and State Mint” was
created
• 1958 – It took the name of “ Zecca”.
• 1982 – It was the first one to mint a coin with two
types of metal.
• Its first location was on the Esquilino hill near Termini
Railway Station.
• Nowadays its headquarters are in Via Salaria.
• There are also two other branches one near our
school, the other one near Termini Railway Station.
• It can only mint euro coins, but it also mints coins for
Vatican City and San Marino.

10. A self-made Italian businessman
• Nazzareno Noro is a 68 –year-old, engineer, who started as a
calculator seller in Olivetti.
• In 1970 he became entrepreneur and co-founded a company
emergency lights.
• Some years later he founded DIEL, his own provider of
communications and infrastructure solution.
• He would later sell it, at the height of it success, to an American
worldwide company, Black Box Corporation.
• Now he has a company working in renewable energies and
industrial patents.
• In this interview Nazzareno tells us about Italy, starting from the
economic boom to the present.