In Italy, “the State budget is a relevant factor for the protection of savings”. This was said by the president of ACRI (Italian Association of Savings Banks), Giuseppe Guzzetti, today, speaking at the 94th World Savings Day about “Ethics of savings and development”. “When the public debate gives prominence to family budgets and private financial assets – he added –, as if to balance the burden of public debt, this should imply a strict protection of such fundamental assets and the commitment of the Government and all the institutions that are involved one way or other, as well as society, to make sure a vicious circle will not be created again between the banking system and public debt”. “Acting on public debt with a long-term plan of measures to reduce it proportionally to the GDP – Guzzetti pointed out – is a duty, not so much for European parameters as, and above all, for the future generations, and right now to prevent the existing problems getting worse, through a suitable strategy made not only of financial measures but also of measures that have an impact on real economy”. The meeting was also attended by the Minister of Economy, Giovanni Tria, the governor of the Bank of Italy, Ignazio Visco, and the president of ABI (Italian Banking Association), Antonio Patuelli.