Draghi greets the ECB but the effect of his policies will still be long over time – Repubblica.it

MILAN – This week at the end of October will go down in history as the one during which the last board of directors chaired by Mario Draghi was held on the ECB. The governor is preparing to formalize the handover with Christine Lagarde on the 28th. Meanwhile a board is found in which the tensions are distributed – on the usual stratum between hawks and doves – for the last decision to relaunch the quantitative easing with the purchase of government and non-government securities. A desperate move to try to re-launch inflation towards the 2% target and to respond to the many signs of decline that are hanging over the European economy.What is certain is that the latest announcements will leave a strong mark on the launch of Lagarde's mandate, which has already made it clear that it will not change the ECB's accommodating approach. According to a survey conducted by Bloomberg among economists, the latest announcements actually freeze the monetary policy of the European Central Bank for the next three years and it will be unlikely to see a rate hike before 2022. Analysts do not expect this Thursday from see changes in monetary policy, but believe that Draghi can use the press conference to launch a final appeal to European governments to loosen the strings of their budgets.
The maneuver, construction site still open, meanwhile dominates the attention at national level. The meeting of the Council of Ministers, scheduled for Monday for the launch of the new earthquake decree, could be an opportunity to return to the remaining open nodes that divide the parties, such as the cash ceiling, the fines on the EOS, the close for the matches VAT, sugar and plastic tax and a fee of 100. The text of the Budget law – launched with the exception of the related Tax Decree – must be completed and sent to the Houses in the coming days (the deadline of October 20 is not mandatory) .In Parliament, in addition to waiting for the Maneuver, the decree on corporate crises holds sway, with the crux of criminal immunity for the former Ilva. On Monday, the measure will be re-examined by the Industry Committee in the Senate with the aim of going to the Chamber the next day.

Finally, at the international level, the publication of quarterly accounts with giants such as Amazon, Intel, Verizon, Microsoft, Twitter, Eni, Ford, Tesla, AbInBev, UBS, Barclays is proceeding at full speed just to name a few. Here are the main events on the agenda Agi:

MONDAY OCTOBER 21
– Tim: meeting of the board of directors, towards appointing Salvatore Rossi as president.
– Istat: notification of debt and public administration debt according to the Maastricht Treaty.
– Dl Imprese: vote amendments in the Senate committee.
– Energy and Sustainability Forum in Milan. Participants include the CEO of Eni Claudio Descalzi, that of Enel Francesco Starace, that of Terna Luigi Ferraris and that of Snam Marco Alvera.
– International Conftrasporto Forum in Cernobbio. The Minister of Transport, Paola De Micheli, participates, among others.

TUESDAY OCTOBER 22
– Dl Imprese: exam in the Senate.
– Confesercenti: annual meeting. Among others, the President of the Council, Giuseppe Conte, and the Minister of Economy, Roberto Gualtieri, participate.
– Istat: mining and quarrying activities in 2017.
– Bank of Italy: bank credit survey.
– INPS: Observatory on Citizenship Income in the Third Quarter.

WEDNESDAY OCTOBER 23
– Syndicates: ninth meeting of the Coffee group. Speakers include the general secretary of the CGIL, Maurizio Landini, that of Cisl, Anna Maria Furlan, and that of Uil, Carmelo Barbagallo.
– Ifel: Annual conference. Participants include the Minister for Regional Affairs, Francesco Boccia, and the deputy ministers of the economy, Laura Castelli and Antonio Misiani.
– Pact for research: conference promoted by the Ministry of Education. Greetings from the President of the Chamber, Roberto Fico, the President of the Council, Giuseppe Conte, and the Minister of the Economy, Roberto Gualtieri. The Minister of Education, Lorenzo Fioramonti, introduces and concludes. The general secretaries of CGIL, CISL and UIL participate in the work.
– MIT: communications from the minister on the programmatic lines of the department in the Public Works commission in the Senate.

THURSDAY OCTOBER 24th
– The Verona Eurasian Economic Forum opens.
Participants include, among others, the president of Rai, Marcello Foa; the former prime minister, Romano Prodi; the Minister of European Affairs, Vincenzo Amedola; the president and CEO of Rosneft, Igor Sechin; the president of Eni, Emma Marcegaglia; the CEO of Snam, Marco Alvera; the mayor of Turin, Chiara Appendino; the executive and CEO of Pirelli & C, Marco Tronchetti Provera.
– Huawei: inaugurates the new Roman offices. Present will be the CEO of Huawei Italy, Thomas Miao, and the ambassador of the People's Republic of China, Li Junhua.
– Saipem: interim management report as of September 30th and media briefing with the CEO Stefano Cao.
– INPS: observatory on parasubordinate and retirement flows in 2018.
– ECB: meeting of the board of governors and press conference of Mario Draghi.

FRIDAY OCTOBER 25th
– Eni: third quarter results and conference call.
– S&P: review of Italy's rating.
– Istat: non-EU foreign trade in September.
– The Eurasian Economic Forum of Verona closes.
Participants include the Minister of Economic Development, Stefano Patuanelli; the president of the Puglia Region, Michele Emiliano; the CEO of Sace, Alessandro Decio; the president of the ACRI and the Compagnia di San Paolo, Francesco Profumo.
– Germany: Ifo index in October.

SATURDAY OCTOBER 26
– Ravello Lab 2019: the president of Confindustria, Vincenzo Boccia takes part.