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Bini Smaghi, Lorenzo

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

Corriere della Sera - Italy | 15/06/2015

Danger of a gigantic financial crisis

The renewed failure of the negotiations with Greece will lead to a financial crisis of epic proportions in Europe, the liberal-conservative daily Corriere della Sera points out: "Yet the financial markets and many observers don't seem to be worried by this. They are probably convinced that an agreement will be reached in the end. In the worst case the European Central Bank will sort it out and banish the danger of contagion, they think. But the theory according to which monetary policy will be enough to limit the impact of the crisis on the financial markets and on the real economy has already proven wrong in the past, most recently when Lehman Brothers went bankrupt in September 2008. … So history threatens to repeat itself. First the problems are underestimated, then because of the hope that others will solve the problem the decision is put off for so long that the crisis gets out of hand."

Corriere della Sera - Italy | 22/03/2007

What future for Europe?

Lorenzo Bini, member of the European Central Bank's administrative council, warns Europe against mistakes that it should not repeat. 'Beyond ceremonies and solemn declarations, Europe should take advantage of the opportunity afforded by the 50th anniversary to give a new thrust to the process of integration, to extract itself from the grid-lock of the Constitution and rise to the challenges of globalisation. ... The mistakes of the past open the path to the future: Europe must not forget its past and must not be changed into globalisation's scapegoat. The 450 million European citizens should all commit themselves to this in order to give Europe a sense of direction, a purpose for these next fifty years."

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