Paolo Savona

Paolo Savona (born 6 October 1936, Cagliari) is an Italian economist and university professor.

After graduating from university in 1961, his career started by winning the competition to enter the Servizio Studi of Banca d'Italia (Bank of Italy; the central bank). Here he worked together with the governors Guido Carli and Paolo Baffi. With Antonio Fazio, he directed the working group that created the first econometric model of the Italian economy, M1BI. He also attended courses at the Massachusetts Institute of Technology (MIT) in Cambridge (USA), where he met Franco Modigliani. Together with Michele Fratianni, he studied the International money creation. He specialised at the Board of Governors of the Federal Reserve in Washington. In 1976, Guido Carli became the President of Confindustria and asked Savona to follow him as General Director, a post that he kept until 1980.

In the following years, he became President of Credito Industriale Sardo (1980–1989), Secretary-General for Economic Planning at the Ministry of Budget (1980-1982), Chief Executive Officer and then Managing Director of Banca Nazionale del Lavoro (1989–1990), President of Fondo Interbancario di Tutela dei Depositi (1990–1999), of Impregilo, Gemina, Aeroporti di Roma and Consorzio Venezia Nuova (2000–2010). After having been vice president of Capitalia, at the moment of the merging with UniCredit, he was named president of Banca di Roma. Between 2000 and 2010, he was also a Board Member of RCS MediaGroup and Telecom Italia.

Minister of Industry, Trade and Handicraft for the Ciampi Cabinet (April 1993-April 1994), he was Head of the Department for EU Policies of the Presidency of the Council of Ministers during the Berlusconi III Cabinet (2005-2006), and Coordinator of the Technical Committee for the Lisbon Strategy, which prepared the draft of the Italian plan for Growth and Occupation, presented to the European Commission on 15 October 2005.

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