The so-called new Silk Road and the fragmentation of EU responses to the crisis "stem from uncertainty, a fear of change" that leads to geopolitical repercussions, Bank of Italy Governor Ignazio Visco said Thursday.
Addressing a conference in Naples, Visco said "since the spring of last year we have seen the explosion of protectionism, the widespread fear that spawns populism, sovreignisms, the yellow vests and in our case the market fear about the capacity of repaying debt, even though the spread did not explode like in the past".
Visco added that growth was low due to a "grave" lack of investments.
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