RE.S.TO.R.E. - Recovering the State Towards a Reformed Economy

Principal Investigator: Aldo Sandulli

---

---

The RE.S.TO.R.E.– Recovering the State Towards a Reformed Economy aims to examine the new role of public authorities in the economy following the crisis caused by the Covid-19 epidemic.

Since the beginning of the economic and financial crisis dating back to 2008, public authorities have started developing new and robust policy measures in broad and important market sectors. This trend has become even more visible with the further and subsequent public debt crisis of some European states, and most recently in relation to the measures to address the socio-economic consequences of the SARS-CoV-2 epidemic. Moving away from the broad and consolidated pattern of the Regulatory State, a new model, the Saviour State, is emerging, which in many cases prevails over the former especially when it comes to defending national economic security.

Italy is no exception to this trend. In recent years, even in the context of the actions currently underway to counter the pandemic crisis and to implement ambitious European reform and recovery programmes, the State has preferred the direct and significant exercise of exclusive prerogatives. This could take the form of transversal recourse to so-called 'golden power' or the systemic use of the Cassa Depositi e Prestiti (Deposit and Loan Bank) as an entity capable of channelling large amounts of funds into specific areas. In more general terms then the State is assuming the role of decisive coordinator of strategic public policy measures in the market, as currently in the preparation of the implementation measures of the Next Generation EU plan.