Mattarella: citizens’ standard of living under pressure from inflation and stagnant wages

Italians’ standard of living is under pressure from inflation and stagnant wages. “Geo-economic and geo-political conflicts, combined with inflation and stagnant wage growth, are eroding citizens’ standard of living.” This is what the President of the Republic, Sergio Mattarella, said in his message to mark Savings Day.

The Head of State also spoke on the subject of Europe. “Full European integration appears, in this context too, to be the best defence against purely speculative finance,” he said. “The obstacles to the single market, on the one hand, and the relative weakness of long-term savings, on the other, divert vast resources elsewhere and hold back investment that could, instead, strengthen our societies,” added Mattarella.