Italy Teams 2017 – GC Powerlist

Italy Teams 2017

  • Industries

  • Powerlist

A2A

| A2A

A2A’s legal team has evolved in parallel with the company, which has recently undergone a reorganisation that resulted in the creation of five distinct business units. Led by general counsel...

#GCPowerlist Italy Teams 2017

Accenture

| Accenture

Made up of a team of 10 professionals, the contracting Accenture legal department is managed by director of legal services Valerio Bruno, who has raised the seniority of the legal...

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Aeroporto di Bologna

| Aeroporto di Bologna

The Aeroporto di Bologna legal department has been recognised for enabling a number of high-profile projects throughout Italy. Most recently, the team has been praised in the legal sphere for...

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AIG

| AIG

Diego Manzetti acts as the lead lawyer for the Italian arm of global insurance group AIG, and describes a specialised, quick to act and extremely knowledgeable team that cover both...

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Allianz

| Allianz

Having been nominated for their ‘proactive and extremely confident approach across a large range of matters and practice areas’, the Italian legal team for global insurance company Allianz is commended...

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Amplifon

| Amplifon

An Italian company dealing with the diagnosis, application and marketing of hearing solutions, Amplifon was founded in 1950 and is a market leader worldwide present in 22 countries. Amplifon operates...

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Anas

| Anas

Italian government-owned company Anas is dedicated to the construction and maintenance of Italian motorways and state highways. Anas has a large legal team composed of 86 lawyers and 80 paralegals...

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Ansaldo Energia

| Ansaldo Energia

Supporting Ansaldo Energia, Italy’s largest supplier, installer and service provider for power generation plants and components, the legal team of 28 lawyers and five paralegals is dispersed in Italy, France,...

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Apple

| Apple

As a global technology and computing giant, Apple in Italy is continuously expanding and in need of a forward-thinking legal team to match its pioneering vision. It is here where...

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Artsana Group

| Artsana Group

Artsana Group is an Italian company founded in 1946 as a business specialised in venepuncture and medication, and later began distributing healthcare and infant care products. The Artsana legal team...

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Assicurazioni Generali – Group Intellectual Property, Antitrust and Labour Legal Affairs

| Assicurazioni Generali – Group Intellectual Property, Antitrust and Labour Legal Affairs

In his capacity as head of group intellectual property, antitrust and labour legal affairs at Assicurazioni Generali, one of Italy’s most prestigious companies, Furio Curri leads a team of five...

#GCPowerlist Italy Teams 2017

Assicurazioni Generali – Group Legal Affairs

| Assicurazioni Generali – Group Legal Affairs

Providing general legal advice and support in addition to supporting group level litigation as well as the specialist group intellectual property, antitrust and labour legal affairs and group strategic legal...

#GCPowerlist Italy Teams 2017

Assicurazioni Generali – Group Strategic Legal Affairs

| Assicurazioni Generali – Group Strategic Legal Affairs

Italy’s largest insurance company and one of the biggest global players in the industry, Assicurazioni Generali requires comprehensive protection in its high value and business enabling financial transactions it undertakes....

#GCPowerlist Italy Teams 2017

AstraZeneca

| AstraZeneca

‘We are business partners, providing valuable, creative and ethical solutions. This team vision was developed after an intensive team work activity, which started from our core values, and determined also...

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Atos Italia

| Atos Italia

Atos, a French-based leading European information technology services currently employs over 2000 staff in Italy. The legal team for Atos’ Italian branch is comprised of a number of experienced and...

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Autogrill

| Autogrill

Commanding a 2016 revenue figure of €4.5bn and a listing on the Milan Stock Exchange, Italian multinational catering company Autogrill is controlled by the Benetton family and has a truly...

#GCPowerlist Italy Teams 2017

Automobili Lamborghini

| Automobili Lamborghini

Italian manufacturer of luxury supercars, sports cars and SUVs, Lamborghini has over 1,146 employees and is owned by the Volkswagen Group through its Audi subsidiary. Established in 1963, Lamborghini has...

#GCPowerlist Italy Teams 2017

Banca Carige

| Banca Carige

Founded in 1483, Banca Carige is one of Italy’s largest banks holding €26.1bn of assets. Made up of a team of experienced lawyers, litigation managers and compliance specialists, the legal...

#GCPowerlist Italy Teams 2017

Banca Generali

| Banca Generali

Banca Generali is a leading Italian asset protection and private banking asset management company with over 1280 financial planners and about 420 private bankers. Part of Generali Group, the bank...

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Banca Popolare di Vicenza

| Banca Popolare di Vicenza

The Banca Popolare di Vicenza (BPVi) banking group was the 10th largest retail and corporate banking group of Italy by total assets up until 2016. In June 2017 the European...

#GCPowerlist Italy Teams 2017

Banco BPM

| Banco BPM

Financials

Banco BPM was formed in 2016 in one of the most high profile events of the Italian financial business landscape in recent years. The result of a merger between the...

#GCPowerlist Italy Teams 2017

Barclays – Personal, Corporate Banking and Shared Services

| Barclays – Personal, Corporate Banking and Shared Services

Financials

A well-known banking institution with a long history in Italy dating back to 1925, Barclays possess a talented legal team in the country that received special mention from a private...

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Benetton Group

| Benetton Group

Striking at the heart of what makes an outstanding internal legal team so valuable to a corporation, a nominator claims of the legal department at iconic global fashion brand Benetton:...

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BNP Paribas Leasing Solutions

| BNP Paribas Leasing Solutions

Made up of a team of seven legal counsels, the legal department at BNP Paribas Leasing Solutions oversee the legal needs of the five separate business units of the company...

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Bosch Italia

| Bosch Italia

Made up of five lawyers and one paralegal, the Bosch Italia team is led by general counsel Manuela Dimase who joined the company in 2015 but has since made integral...

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Bottega Veneta

| Bottega Veneta

Bottega Veneta is a luxury goods company best known for its fashion and leather products, and according to their general counsel Giacomo Leo possess a ‘best in class’ legal team...

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Brembo

| Brembo

Brembo is an Italian manufacturer of automotive brake systems, and due to the stringent regulation present in the field of automotive parts it is reliant on a strong legal presence...

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ButanGas

| ButanGas

Founded in Italy in 1948, ButanGas currently stands as one of the largest liquefied petroleum gas distributors in Europe. The energy company currently consists of 15 branches, 10 operating units...

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Cementir Holding

| Cementir Holding

Led by the notable group general counsel Claudio Criscuolo, the Cementir Group legal function is a 15-member team, located at the Rome headquarters as well as abroad in Cementir affiliates...

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Coca-Cola Hellenic Bottling Company Italy

| Coca-Cola Hellenic Bottling Company Italy

Food, beverages and tobacco

Giovanni Barone is the legal affairs director for The Coca-Cola Hellenic Bottling Company in Italy, and the business – a bottling partner of The Coca‑Cola Company – relies on Barone...

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Crédit Agricole Corporate and Investment Bank

| Crédit Agricole Corporate and Investment Bank

Financials

France-headquartered Crédit Agricole maintains a significant corporate and investment bank operation in Italy, where it has operated successfully for many years. Crédit Agricole Corporate and Investment Bank (CIB) is an...

#GCPowerlist Italy Teams 2017

Credito Fondiario

| Credito Fondiario

Founded in 1898, Credito Fondiario specialises in management of non-performing loans (NPL). In its capacity the bank is currently acting as adviser to Atlante fund, the Italian fund dedicated to...

#GCPowerlist Italy Teams 2017

Denso Thermal Systems

| Denso Thermal Systems

Denso Thermal Systems was established in 1986 in Turin, and recently celebrated its 25th anniversary of producing high quality thermal products for the automotive and off-road sectors. The company is...

#GCPowerlist Italy Teams 2017

Dexia Crediop

| Dexia Crediop

Subject to a European Commission run off in 2012 that changed the way that Dexia Crediop, the Italian investment bank specialising in funding public infrastructure, did business, the legal team...

#GCPowerlist Italy Teams 2017

Dompé

| Dompé

Dompé is an Italian biopharmaceutical company focused on the innovation, research and development of healthcare. Established in 1940, Dompé is headquartered in Milan, but has branches in Boston, Barcelona, Berlin,...

#GCPowerlist Italy Teams 2017

Edison

| Edison

Historic and high revenue global energy firm Edison are served by a legal department that is known for its enduring quality and flexible support across a variety of practice areas...

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Enel – Global Legal

| Enel – Global Legal

The legal and corporate affairs department of Italian multinational energy Group Enel is run by Giulio Fazio, group general counsel as of 2016. The department has more than 500 people...

#GCPowerlist Italy Teams 2017

Enel – Italy Legal

| Enel – Italy Legal

Taking charge of the legal affairs for Enel Group in its home market in Italy, the head of Enel legal and corporate affairs Italy Giuseppe Conti leads a team of...

#GCPowerlist Italy Teams 2017

Engie

| Engie

The Italian subsidiary of French energy company ENGIE is served by a legal team that is highly recommended by its internal business partners and external colleagues alike. A nominating source...

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Eni

| Eni

With operations in 73 different countries around the globe and roughly 33,000 employees, the Eni legal team must possess a broad range of technical skill to support the Italian multinational...

#GCPowerlist Italy Teams 2017

ERG Power Generation

| ERG Power Generation

ERG Power Generation is a manufacturer of electricity from clean, renewable sustainable sources, with a history spanning over eighty years. In the recent past the company has completed a radical...

#GCPowerlist Italy Teams 2017

FCA Bank

| FCA Bank

Financials

FCA Bank is a bank dedicated to motorists, operating in the automotive financing sector and was formed by the joint venture between Fiat Chrysler Automobiles Italy and Crédit Agricole Consumer...

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FedEx

| FedEx

Made up of nine lawyers, one assistant and one trainee, the FedEx Italy legal team has been behind introducing the high compliance standard of FedEx into the TNT organisation in...

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Ferrari

| Ferrari

World famous automobile manufacturers Ferrari enjoy legal support from a team of eight lawyers and a paralegal led by general counsel Carlo Daneo, an inclusion on The Legal 500 GC...

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Fiat Chrysler Automobiles

| Fiat Chrysler Automobiles

As the seventh largest automobile manufacturer in the world as well as having one of Italian businesses most illustrious names, Fiat Chrysler Automobiles (FCA) have a significant reputation to protect....

#GCPowerlist Italy Teams 2017

Fiera Milano

| Fiera Milano

Fiera Milano is one of the most important trade fair organisers in Italy and one of the largest in the world, operating in the fields of management and organisation of...

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Fox Networks Group

| Fox Networks Group

Providing outstanding legal support for the international broadcaster Fox Networks Group in its European and African regions, Daniela Guarnaccia, vice president and deputy general counsel, and a team made up...

#GCPowerlist Italy Teams 2017

Furla

| Furla

Recognised in 2016’s GC Powerlist: Italy, Giorgia Armanni is the lead lawyer in the team of seven at Italian luxury goods company Furla, and describes the function as having achieved...

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GE Capital – Industrial Finance

| GE Capital – Industrial Finance

The Industrial Finance arm of GE Capital provides financing solutions to GE Industrial businesses and their global customers through a wide range of products and financing solutions. Emiliano Verniero is...

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Geox

| Geox

Italian shoe brand and clothes manufacturer of waterproof and breathable fabrics Geox have consistently invested in innovation ever since the company’s founding year of 1995. The Geox head offices comprise...

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Ghella

| Ghella

Since its establishment in 2009 the Ghella legal team has been involved in all critical business decisions taken by the top management of the construction company. The legal team has...

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Gucci

| Gucci

Antonella Centra is the most senior lawyer and global general counsel of premium Italian fashion brand Gucci, which has a worldwide legal department based in its home country of Italy...

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Hearst Italia Group

| Hearst Italia Group

Worldwide publishing company Hearst Magazines employ a small legal team in the Italian region to support and organise their business affairs, and Federica Tigani leads the legal support in the...

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Heineken

| Heineken

Present in Italy since 1974, Dutch global brewer Heineken owns the well-loved Italian beer brand Birra Moretti and operates six brewing plants in the country. Senior counsel Paolo Martone and...

#GCPowerlist Italy Teams 2017

IDeA FIMIT

| IDeA FIMIT

IDeA FIMIT is one of Italy’s leading asset management companies with a specialism in real estate funds, and crucial to the businesses line of products and their offering of services...

#GCPowerlist Italy Teams 2017

Industrial and Commercial Bank of China (Europe) – Milan Branch

| Industrial and Commercial Bank of China (Europe) – Milan Branch

Financials

Despite a relatively small function of three staff, the legal team of the Milan Branch of the Industrial and Commercial Bank of China (ICBC) – one of China’s state-owned banking...

#GCPowerlist Italy Teams 2017

Intesa Sanpaolo

| Intesa Sanpaolo

Euro Stoxx 50 listed Intesa Sanpaolo is the largest banking group in Italy, having been formed in 2007 after the merger of Banca Intesa and Sanpaolo IMI, and its legal...

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Isagro

| Isagro

Isagro is a Borsa Italiana listed company that operates on a global level in the market of agropharmaceuticals and biostimulants, investing in the discovery and development of new molecules and...

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Japan Tobacco International Italia

| Japan Tobacco International Italia

Lorenzo Fronteddu is the most senior lawyer in charge of a small team of professionals serving Japan Tobacco International’s Italian subsidiary, which has recently had to face a fresh challenge...

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Kering

| Kering

Kering is a French multinational group that acts as the holding company of several high profile fashion brands – including Italy’s Gucci, Bottega Veneta and Brioni labels – and despite...

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Leonardo

| Leonardo

Formerly known as Finmeccania, the Italian aerospace, defence and security multinational Leonardo is one of the largest defence contractors in the world and requires a comprehensive amount of legal advice...

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Luigi Lavazza

| Luigi Lavazza

Italian manufacturer of coffee products Luigi Lavazza was founded in Turin in 1895. Leading the legal team for the last 16 years, general counsel, Simona Musso has been integral in...

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Manpower

| Manpower

Manpower is a global recruitment group that offers services such as candidate search, recruitment outsourcing and training at a variety of levels in several market sectors. Offering this wide range...

#GCPowerlist Italy Teams 2017

Max Mara

| Max Mara

The legal team of upmarket Italian fashion business Max Mara is spoken of highly by a nominating source, who claims the team has ‘a very business orientated approach’ and the...

#GCPowerlist Italy Teams 2017

Microsoft

| Microsoft

Global technology company Microsoft is well established in Italy, and has recently opened a new headquarters in Milan that is expected to house 10,000 professionals and a further 5,000 students...

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Mondelēz

| Mondelēz

The legal team of Mondelēz at the Italian arm of American multinational food and beverage company Mondelēz is behind some of its most high-profile acquisitions in the region as of...

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MoneyGram International

| MoneyGram International

The business of global money transferring services brings with it inherent risk, a requirement to think globally and a need for high levels of technical expertise. Able to understand these...

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Nestlé Group Italy and Malta

| Nestlé Group Italy and Malta

The legal team at Nestlé Group Italy and Malta is overseen by general counsel Daniele Guarnieri, who joined in 2016 bringing over nine years of experience as legal affairs manager...

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Nexive

| Nexive

Nexive was founded in 1998 under the name of TNT Post Italia and in 2011 officially split from the parent company of the express shipping sector to form the new...

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Nokia

| Nokia

Legal and compliance support in Italy for global telecoms company Nokia is headed by Emiliano Berti, who in his role as head of legal and compliance for the entire European...

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Nomura Italia

| Nomura Italia

Three employees make up the Italian legal team for Nomura, one of Japan’s leading financial institutions. The head of the local legal and compliance department is Laura Del Favero who...

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OVS

| OVS

OVS is the largest retailer in the extremely competitive Italian clothing market, and owing to their market position and the numerous brands in its portfolio a team providing legal support...

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PayPal

| PayPal

Gianluca Di Nunzio is the head of legal for Italy at global online payments company PayPal, and leads a team that is spread out over several European Union countries from...

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Pierre Fabre Italia

| Pierre Fabre Italia

The Pierre Fabre legal team in Italy is known in the region for its highly experienced and competent set of lawyers. Pierre Fabre is the second largest global dermo-cosmetic laboratory...

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Pirelli

| Pirelli

One of Italy’s most recognisable brands worldwide, the Pirelli tyre company has seen a recent upheaval in its ownership having been acquired by Chinese firm ChemChina and undergoing a delisting...

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Poste italiane

| Poste italiane

Poste italiane is an Italian postal services provider that has a long history dating back to the 19th century and offers a range of services including core postal services, postal...

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Prelios SGR

| Prelios SGR

A team of six lawyers and two support staff, the legal team at Italian real estate fund Prelios SGR is described by head of corporate and legal affairs and company...

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Prysmian Group

| Prysmian Group

In 2005, an investment fund of Goldman Sachs acquired the cable businesses of Pirelli and formed Prysmian Group, now the largest manufacturer of electric power transmission and telecommunications cables in...

#GCPowerlist Italy Teams 2017

Rai

| Rai

National public broadcasting company Rai is the biggest broadcaster in Italy with 15 televisions and seven radio channels nationwide. The legal team has been behind strengthening its reputation and brand...

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Repower Italia

| Repower Italia

Repower Italia is an international group active in the energy sector with a history accrued during a period of over one hundred years. The legal team has been praised by...

#GCPowerlist Italy Teams 2017

Rizzani de Eccher

| Rizzani de Eccher

The legal team at construction company Rizzani de Eccher is staffed with 15 experienced professionals including 13 lawyers and two engineers who also partake in managing contracts and disputes. Known...

#GCPowerlist Italy Teams 2017

SAES Getters

| SAES Getters

Established in 1940 by Tuscan engineer Ernesto Gabrielli, SAES Group is an electrical and scientific components focused on inventing and manufacturing advanced functional materials. In their 70 year history SAES...

#GCPowerlist Italy Teams 2017

Saipem

| Saipem

With a legal team of 46 lawyers in addition to 220 contract managers worldwide, Italian oil and gas industry contractor Saipem is able to rely on the effectiveness and results-driven...

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Salini Impregilo

| Salini Impregilo

Officially formed in 2014 as the result of a merger by the incorporation of Salini into Impregilo, the new Salini Impregilo company is an Italian industrial group that specialises in...

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Saras S.p.A.

| Saras S.p.A.

A key Italian oil refiner, Saras S.p.A. owns the largest refinery in the Mediterranean, the Sarroch refinery on the southwestern coast of Sardinia. One of six oil-refining supersites in Europe,...

#GCPowerlist Italy Teams 2017

Sky Italia

| Sky Italia

Sky Italia, an Italian digital satellite television platform owned by pan-European broadcaster Sky, has had a big impact on a local market that has for a number of years been...

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Snam

| Snam

Snam is an Italian natural gas infrastructure company with a market capital figure of €16.97bn and a highly skilled legal team that covers the range of legal scope the business...

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Sparkasse

| Sparkasse

Formed in September 2016, Sparkasse’s legal team is focused on providing legal advice to all business units of the bank and covers all aspects of banking and financial law, litigations...

#GCPowerlist Italy Teams 2017

TeamSystem

| TeamSystem

TeamSystem is the leading developer and distributor of software and services targeting businesses, accountants, employment consultants, law firms, building managers and associations. The Italian TeamSystem legal team is composed of...

#GCPowerlist Italy Teams 2017

Techint Group

| Techint Group

Made up of a multi-disciplinary team of lawyers, paralegals and engineers, the Techint legal group has recently worked to transition from a function that previously outsourced to external counsel to...

#GCPowerlist Italy Teams 2017

Technogym

| Technogym

Technogym is a true modern Italian business success story, having been founded in 1983 by Nerio Alessandri and subsequently achieving a listing on the Milan Stock Exchange thanks to their...

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Telecom Italia

| Telecom Italia

Telecom Italia is an Italian telecommunications company providing telephonic services, mobile services and DSL data services. Founded in 1994 by the merger of several state-owned telecommunications companies, the company is...

#GCPowerlist Italy Teams 2017

Tiscali

| Tiscali

Italian telecommunications company Tiscali provide internet and telecommunications services to the domestic Italian market, holding one of the most reputable and recognisable brands in the sector. Led by general counsel...

#GCPowerlist Italy Teams 2017

UBS

| UBS

With over 500 employees and direct operations in 12 major Italian cities, UBS is the first specialised operator in private banking in terms of volume management. The Italian division has...

#GCPowerlist Italy Teams 2017

UniCredit

| UniCredit

The leading Italian banking and financial services company, UniCredit, is one Europe’s biggest financial institutions. From its headquarters in Milan, the dynamic legal team works diligently to support the bank’s...

#GCPowerlist Italy Teams 2017

Versace

| Versace

Premium Italian fashion brand Versace has been a staple part of the industry since its formation in 1978. Versace’s legal team has built their reputation as a strong department, integral...

#GCPowerlist Italy Teams 2017

Whirlpool

| Whirlpool

‘We are leading ourselves, our department and our business with vision. That vision is to become a high performing team of leaders and strategic business partners and the number one...

#GCPowerlist Italy Teams 2017

Wind Tre

| Wind Tre

The legal team for Wind Tre, the largest mobile operator in the Italian telecommunication market, is dedicated to the company goal of becoming the most innovative digital telecoms company with...

#GCPowerlist Italy Teams 2017

Yoox Net-a-Porter Group

| Yoox Net-a-Porter Group

Yoox Net-a-Porter Group (Yoox), the world’s leading online luxury fashion retailer, was formed in 2015 after the merger of Italy-based Yoox Group and Compagnie Financière Richemont-owned Net-a-Porter. In addition to...

#GCPowerlist Italy Teams 2017

The Italian context to the role of the in-house legal team is shaped mostly by the economy of the country, which has undergone several changes and renovations in the light of the 2008 Financial Crisis. Traditionally synonymous with industry, luxury goods and a worldwide reputation of quality products, the Italian economy – and the lawyers working within it – will face challenges predicated on a combination of factors, namely public debt, recession and complications related to bureaucracy.

That said, the productive and industrial capacity of Italy should not be underestimated; key industries with a large scale presence include financial services, consumer products and energy and utilities, which combine and compliment with other industries to ensure Italy is able to boast strong investment figures in its private sector. Utilising this capacity will be crucial to the future of the Italian economy, and the scope for potential output to be raised is significant, should public spending on infrastructure and research continue whilst continuing structural reforms would also accelerate the recovery.

In The Legal 500 GC Powerlist: Italy Teams, we highlight the recent achievements of some of the most impressive legal teams in the country. These teams have brought significant value to the Italian business world with their superior technical expertise, developing creative solutions to some of the most pressing legal and compliance challenges.

Over the last several months our experienced research team has been speaking to law firm partners and in-house legal practitioners to garner nominations for those believed to provide the most outstanding support and innovative methods of working in the market. We then chose the nominees who were most worthy of inclusion through a process of background research and telephone interviews.

I would like express my gratitude to our sponsor Toffoletto De Luca Tamajo for generously supporting our publication. A special mention must also go to the general counsel and private practice lawyers that took the time to speak to us during the research process, as well as to our research team.

David Burgess
Publishing Director

Toffoltto De Luca Tamajo

Toffoltto De Luca Tamajo logo

Toffoletto De Luca Tamajo is pleased to support the GC Powerlist: Italy Teams 2017. We believe that it is extremely important to consolidate our relationship with GCs, as well as exchange points of view with them, in order to improve the level of service we provide to our clients. In the current legal services market, a heightened understanding of clients’ needs has become the most important factor for maintaining a position on the market.

The period running from 2015 to 2020 is a crucial time for law firms all around the world. The legal services market is rapidly changing and law firms must be ready to completely overhaul their business models.

The pressure placed on price, which begun after 2008, has steadily increased, requiring law firms to make profound changes to their respective organisations in order to render them increasingly efficient. That said, organisational efficiency cannot be reached at a sufficient level without making considerable use of technology, which means making substantial investments that many law firms do not have the financial capacity to make. Even the biggest law firms – which may be able to afford new software and hardware – must have governance rules and an attitude to lead change; both quite rare in the legal world. It is generally difficult for lawyers to understand that they must alter the way they perform their day-to-day work, as well as be willing to change their approach to clients and organisational matters.

The economic situation in Italy is now better than it has been past years, although it remains a country divided in two, with the Northern regions now doing better than in 2007. In fact, the unemployment rate has decreased in the north (7.7% in Lombardy) and some of its small towns have a GDP per capita of almost €44,000 per year. Lombardy’s GDP is €31,360 for 2016, as against Italy’s €23,975. It’s worth remembering that Italy’s GDP amounts to US$1,850 billion and it is the eighth biggest economy in the world. Just for comparison’s sake, Russia’s GDP is US$1,283 billion.

However, Southern Italy has great potential for growth over the next few years. A new generation of entrepreneurs has arrived, and agriculture production and tourism are rapidly growing. The number of tourists in Sicily during the 2017 Easter holiday is double the figure reported for 2016. Last year, the number of tourists in Sicily grew by 46.6% compared with 2015, while in Puglia this same number grew by 6.4% during the same period. In total, Italy’s tourist numbers were approximately 56 million in 2016. Italy’s fast speed trains, which work very efficiently and connect large parts of the country, have no doubt played a part in this.

In 2016, Italian exports also grew by 1.2% and the country’s surplus stands at €78 billion. This is the best result achieved in the last 25 years, with an increase of €1.8 billion compared with the previous year. Agriculture production reached its highest numbers ever recorded: €38.4 billion, which is 4% more than the year before. Wine export was also a big success: €5.6 billion in value, with a 4% increase in 2016 with respect to 2015, making Italy the number one wine producer in the world. Car production also grew by 8.5%, when comparing the first quarter of 2017 with that of 2016.

73% of Italians own their home, as opposed to only 64.6% in the UK, 64.3% in France and 52.6% in Germany. In 2014, Italians’ financial wealth (money in the bank, shares and funds) grew to a record €3,858 billion, which is an increase of €400 billion compared with 2011. It’s possible that not many people know that Italy has a primary surplus for pre-interest payments. Italy also implemented many reforms in the last five years, including an important reform on the public pension system and new rules for employment, which have radically changed its position compared with other European countries. However, many things remain to be done: the reduction of public debt, taxes on employment, and the inefficiency of the public sector and the Courts. Nevertheless, Italy certainly finds itself in a different position compared with some years ago.

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