President tells banks to support recovery, not close credit
Recession has led to fall in loans to firms, families30 October, 11:08
Recent figures from the Bank of Italy have shown banks have reduced their lending as the recession bites.
In August, for example, loans to Italian households and non-financial firms were down 3.5% compared to the same month in 2012.
This is a worrying sign as it will be much harder for Italy to pull out of the recession if families and businesses have trouble obtaining credit.
"The first, uncertain signs of recovery must induce us to reinforce all our actions to support the economy, a general effort that cannot do without the support of the banking and financial system," Napolitano said in message for World Savings Day. The head of State called on lenders to give "adequate financial support to firms," especially small and medium-sized enterprises.