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Zingales, Luigi

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2 articles of this author have been cited in the European Press Review so far.

Il Sole 24 Ore - Italy | 09/07/2015

Renzi must prevent Grexit for Italy's sake

A Grexit would be particularly expensive for countries with high national debts, economist Luigi Zingales warns in the liberal business paper Il Sole 24 Ore, calling on Italian Prime Minister Matteo Renzi to finally take action: "While the cost of a Greek default is distributed proportionally between the North and South, the cost of the loss of credibility of the euro is not the same. The North (and, in particular, Germany) could even gain from this loss in credibility because the bund would become even more a safe haven. By contrast, the South (Italy, in particular) would have much to lose. 100 additional basis points on a debt of €2 trillion, would mean a cost of €20 billion more per year for Italy. ... Why then is the Renzi government so absent from the negotiations? Italy is the country that has the most to lose from a Grexit. It's time for Renzi to intervene."

Il Sole 24 Ore - Italy | 26/09/2014

Pope proving his skills as manager

Pope Francis this week ordered the arrest of former Polish archbishop Józef Wesołowski, who was found guilty of child abuse by a Vatican tribunal earlier this year, and also dismissed a bishop in Paraguay for failing to expose paedophile priests. The economist Luigi Zingales notes that the pope is proving his leadership qualities with such decisions: "I'm amazed that our champions of the constitutional states haven't declared war on him in reaction. Is Bergoglio not aware that the presumption of innocence applies until the final sentence has been passed? No, the pope is no doubt aware of civil rights here. But unlike our commentators he knows the difference between responsibility under penal laws and the responsibilities of a manager. These two concepts are all too often confused with each other in our companies, not to mention in our politics. Every citizen has the right to be presumed innocent until the contrary is proven, but an organisation is under no obligation to leave him in his post until the courts have had their say."

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