Overview

• At its Milan assembly on July 12, ABI President Antonio Patuelli cautioned that rising protectionism and US-imposed tariffs risk triggering a new recession.
• He argued that trade wars would undermine market stability, increase uncertainties for businesses and accelerate credit deterioration in bank portfolios.
• Patuelli called on policymakers to defuse trade barriers and halt the introduction of new tariffs to prevent further economic fallout.
• He advocated for targeted corporate tax incentives to boost investment and shore up bank balance sheets amid external shocks.
• The ABI chief also pressed for reforms to EU institutions, highlighting the need to revamp the European Stability Mechanism and deepen capital market integration.