Italy’s Business Elite Gets a Taste of Government Intervention

(Bloomberg) — Italian Prime Minister Giuseppe Conte made it clear to the country’s corporate elite that he’ll be calling the shots more often in a pandemic-stricken economy.

Conte and cabinet members showed up in force over the weekend at a gathering of financial and company leaders on the shores of Lake Como in northern Italy. Meanwhile, many executives and investors stayed away or sent deputies as a surge in coronavirus cases put a damper on the event.

“At this moment, the state cannot just be a referee,” Economic Development Minister Stefano Patuanelli said at the Ambrosetti Forum in Cernobbio. “The great transformation of production arrangements must be directed by significant public governance that sets the guidelines.”

a man wearing a suit and tie: Italy's PM Conte Hosts French President Macron

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Italy’s PM Conte Hosts French President Macron

Giuseppe Conte in Naples on Feb. 27.


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Photographer: Alessia Pierdomenico/Bloomberg

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