Italian businessman Aldo Todini sees hope in Italy's banking system.
Aldo Todini, an Italian businessman who has overseen many successful capital ventures, believes Italian banks are key to the recovery of the Italian economy. As a longtime financial strategist, Aldo Todini knows the inevitable ups and downs of the market. He also believes Italy has one of the best banking systems in Europe.
According to Aldo Todini, Italy has been going through an economic depression, similar to that experienced by many other areas. But experts in the industry believe 2013 will mark the beginning of economic recovery for the country. Aldo Todini points out that Italy has a control in place to help resolve budget deficits, which will help government officials balance the budget and put Italy on the right track.
Banks will play a large part in Italy's economic recovery, Aldo Todini believes. Having a healthy banking system helps strengthen the private sector and encourages international trade. Globalization, according to Aldo Todini, will ensure Italy's economy flourishes throughout the coming years. Italy's banking system sets itself apart by having conservative assets contrasted with high levels of retail funding, says Aldo Todini. This helps protect Italy's banks from the rest of the European market.
At the same time, Italian banks are being conservative in their lending practices, adds Aldo Todini. Rather than investing money in helping businesses, Aldo Todini has noticed that Italy's banks are parking funds in government bonds. This is partly due to the low prices of European Central Bank funds at the moment, Aldo Todini explains. Increases in bad debts also make Italian banks hesitant to lend money. This will further help protect Italy's economy from the issues currently experienced in other European markets, Aldo Todini believes.
Another factor benefiting the Italian economy is that consumers aren't withdrawing their money from Italian banks, as Aldo Todini has seen happen in other parts of Europe. Still with all of these factors, Aldo Todini is concerned about the recession still in place throughout Europe. By withholding lending, Aldo Todini is concerned that Italy's banks may stall economic growth, since businesses and consumers will be unable to secure financing to start new enterprises or buy new homes.
Aldo Todini regularly conducts business workshops. A member of the Italian National Register of Chartered Auditors, he is especially well-versed in helping business find ways to save money and be more productive. He is a resident of Udine and is fluent in three languages.
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33100 Udine, Italy