Obituary: Guido Carli

Guido Carli, economist, banker and politician: born Brescia 28 March 1914, Minister of Foreign Trade, Italy 1957-58; General Manager, Bank of Italy 1959-60, Governor 1960-75; Governor for Italy, International Bank for Reconstruction and Development 1962-75; President, Confindustria 1976-80; President, European Industrialists Federation 1980-84; Senator (Christian Democrat) for Milan 1983-93; Minister of the Treasury 1989-92; married (wife deceased; one son); died Spoleto 23 April 1993.

GUIDO CARLI was one of Italy's foremost experts on international economic and monetary affairs. As head of Italy's most important public and private centres of economic policy-making - from the governorship of the Bank of Italy and Treasury Ministry to the Presidency of the Italian Confederation of Industry, Confindustria - Carli dedicated himself to opening up and privatising Italy's post-war economy.

In the early 1950s Carli represented the Italian government in a number of international bodies (IMF and European Payments Union) engaged in the creation of the new international economic system. He also played a prominent role in the consolidation of a strong domestic private sector as president of one of the country's most important lending institutions and as Foreign Commerce minister in the 1950s.

The strong international focus of Carli's brand of economic reform helped to transform the Italian economy from the autarchy of the Fascist period to full currency convertibility, the opening of domestic markets to international competition, and the promotion of the free flow of capital. Carli was a strong believer in the importance of the Single Market for Italy's economic future, and while Minister of the Treasury in the 1989 Andreotti government he concentrated his energy on making Italy a full partner in the EMS and the Single Market. He considered EC economic integration and monetary union as two fundamental steps in the ultimate emergence of Italy's economy from its former peripheral status in Europe.

In the 1960s and 1970s Carli fought long and hard against the strong protectionist proclivities of the top rungs of Italian political and administrative elites which were fed by fears of foreign competition. The admittance in the early 1980s of Italy to the world economic summits and the recognition that it was among the top seven industrialised Western countries went a long way in justifying the views expressed by Carli on the role of an open market as an essential component of economic growth.

However, as much as he tried, Carli did not witness during his lifetime the achievement of his goal of privatising large parts of the country's nationalised industries. During his tenure as Governor of the Bank of Italy, from 1960 to 1975, Carli helped the centre-left governments overcome periodic speculative attacks against the lira but was not able to block those governments' continuing nationalisation policies. After the Bank of Italy, Carli moved over to the private sector as president of Confindustria where under his leadership neo-corporatist agreements emerged as a means of moderating wage demands and reducing the level and intensity of strike action.

In 1983 Carli turned to politics to advance his goal of privatisation; he was elected to his first political post as Christian Democratic Senator for Milan, a post to which he was re-elected in 1987. His appointment as Minister of the Treasury in 1989 gave rise to the hope that Carli could succeed in privatising significant portions of the public sector. With the recent unravelling of the kick-back scandal which has rocked and permanently destabilised the former governing coalition, it is now clearer why leaders of Carli's stature and foresight found privatisation so difficult to achieve. Control of public corporations was designed to produce power for the ruling political class and sweetheart deals for the large private corporations rather than benefits for the economy as a whole. It is ironic that as Carli's life came to an end the goal of privatisation was being proposed by the Amato government. As Carli had already understood, Italy could ill afford a large public sector. An open economy is incompatible with government monopolies in key economic sectors.

The implementation of privatisation is one of the primary tasks announced by the prime minister designate Carlo Azeglio Ciampi, the Governor of the Bank of Italy. On the heels of the results of the referendum held on 18 April, the appointment of Ciampi would have pleased Carli, as it represents another sign of positive change in Italian politics. A leader of an unquestioned high level of professional and administrative experience in the mould of Guido Carli is taking over the task of guiding Italy through the present transitional phase of political and economic reform.

(Photograph omitted)

PROMOTED VIDEO
News
ebooksAn evocation of the conflict through the eyes of those who lived through it
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs People

HR Analyst - Banking - Bristol - £350-£400

£350 - £400 per day: Orgtel: HR Analyst - Banking - Bristol - £350 - £400 per ...

HR Manager - HR Generalist / Sole in HR

£30000 - £35000 per annum + benefits: Ashdown Group: HR Manager - HR Generalis...

Business Analyst - Banking - London - £350-£400

£350 - £400 per day: Orgtel: Business Analyst - Banking - People Change - Lond...

HR Manager - Milton Keynes - £50,000 + package

£48000 - £50000 per annum + car allowance + benefits: Ashdown Group: HR Shared...

Day In a Page

All this talk of an ‘apocalyptic’ threat is simply childish

Robert Fisk: All this talk of an ‘apocalyptic’ threat is simply childish

Chuck Hagel and Martin Dempsey were pure Hollywood. They only needed Tom Cruise
Mafia Dons: is the Camorra in control of the Granite City?

Mafia Dons: is the Camorra in control of the Granite City?

So claims an EU report which points to the Italian Mob’s alleged grip on everything from public works to property
Emmys look set to overhaul the Oscars as Hollywood’s prize draw

Emmys look set to overhaul the Oscars as Hollywood’s prize draw

Once the poor relation, the awards show now has the top stars and boasts the best drama
What happens to African migrants once they land in Italy during the summer?

What happens to migrants once they land in Italy?

Memphis Barker follows their trail through southern Europe
French connection: After 1,300 years, there’s a bridge to Mont Saint-Michel

French connection: After 1,300 years, there’s a bridge to Mont Saint-Michel

The ugly causeway is being dismantled, an elegant connection erected in its place. So everyone’s happy, right?
Frank Mugisha: Uganda's most outspoken gay rights activist on changing people's attitudes, coming out, and the threat of being attacked

Frank Mugisha: 'Coming out was a gradual process '

Uganda's most outspoken gay rights activist on changing people's attitudes, coming out, and the threat of being attacked
Radio 1 to hire 'YouTube-famous' vloggers to broadcast online

Radio 1’s new top ten

The ‘vloggers’ signed up to find twentysomething audience
David Abraham: Big ideas for the small screen

David Abraham: Big ideas for the small screen

A blistering attack on US influence on British television has lifted the savvy head of Channel 4 out of the shadows
Florence Knight's perfect picnic: Make the most of summer's last Bank Holiday weekend

Florence Knight's perfect picnic

Polpetto's head chef shares her favourite recipes from Iced Earl Grey tea to baked peaches, mascarpone & brown sugar meringues...
Horst P Horst: The fashion photography genius who inspired Madonna comes to the V&A

Horst P Horst comes to the V&A

The London's museum has delved into its archives to stage a far-reaching retrospective celebrating the photographer's six decades of creativity
Mark Hix recipes: Try our chef's summery soups for a real seasonal refresher

Mark Hix's summery soups

Soup isn’t just about comforting broths and steaming hot bowls...
Tim Sherwood column: 'It started as a three-horse race but turned into the Grand National'

Tim Sherwood column

I would have taken the Crystal Palace job if I’d been offered it soon after my interview... but the whole process dragged on so I had to pull out
Eden Hazard: Young, gifted... not yet perfect

Eden Hazard: Young, gifted... not yet perfect

Eden Hazard admits he is still below the level of Ronaldo and Messi but, after a breakthrough season, is ready to thrill Chelsea’s fans
Tim Howard: I’m an old dog. I don’t get too excited

Tim Howard: I’m an old dog. I don’t get too excited

The Everton and US goalkeeper was such a star at the World Cup that the President phoned to congratulate him... not that he knows what the fuss is all about
Match of the Day at 50: Show reminds us that even the most revered BBC institution may have a finite lifespan – thanks to the opposition

Tom Peck on Match of the Day at 50

The show reminds us that even the most revered BBC institution may have a finite lifespan – thanks to the opposition