Vittorio Grilli

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Vittorio Grilli
Vittorio Grilli World Economic Forum 2013.jpg
Minister of Economy and Finances
In office
11 July 2012 – 28 April 2013
Prime Minister Mario Monti
Preceded by Mario Monti
Succeeded by Fabrizio Saccomanni
Personal details
Born (1957-05-19) 19 May 1957 (age 57)
Milan, Italy
Political party Independent
Alma mater Bocconi University
University of Rochester

Vittorio Grilli (born 19 May 1957) is an Italian economist and academic. He was Italy's economy and finances minister as part of the Monti cabinet from 2012 to 2013.

Education[edit]

Grilli was born in Milano on 19 May 1957.[1] He graduated from Bocconi University with a master of arts degree in economics.[2][3] He received a PhD in economics from the University of Rochester in 1986.[4]

Career[edit]

Grilli was assistant professor of economics at the Department of Economics of Yale University from 1986 to 1990. Then he joined the University of London's Birkbeck College as Woolwich Professor of financial economics from 1990 to 1994. He served as head of the department of economics and financial analysis and privatizations at the ministry of treasury, budget and financial programming from 1994 to 2000.[5][6] Then he became managing director and head of the Italian investment banking Credit Suisse First Boston (CSGN) in London in 2001 and was in office until 2002.[7][8] Next, he was appointed general accountant of the Italian State in 2002 and his tenure lasted until 2005. He was named as the director general of the Italian treasury in 2005 and served there until 2011.[7] He was made vice-president of the economic and financial committee (EFC) of the European Union in March 2009[1] and in March 2011, he was chosen to chair the EFC.[9] Grilli's tenure lasted until January 2012, and he was replaced by Thomas Wieser in the post.[10]

Grilli was appointed deputy minister of economy and finances in November 2011,[11] and served in this post until 11 July 2012 prior to his appointment as minister.[2] Grilli also worked as an advisor to private companies including Enel and Alitalia.[12] He is a member of the European think tank organization Bruegel and of the Aspen Institute Italia.[5]

Minister of Economy and Finances[edit]

Grilli replaced Mario Monti as minister of economy and finances on 11 July 2012.[5][13] Grilli was also a member of the economic and financial policy coordinating committee established in July 2012, of which other members were Monti, Ignazio Visco, the governor of the Bank of Italy, and Corrado Passera, economic development minister.[7][13] The committee was chaired by Monti.[14]

On 9 September 2012, Grilli announced that Italy's current financial status did not require to apply for the new euro-zone aid program.[15] In December 2012, he reported that he did not have any plan to work in a government post or a treasury position after the 2013 February general election in Italy.[8] Grilli's term as economy minister ended in April 2013 and Fabrizio Saccomanni succeeded him in the post.[16][17]

Awards[edit]

Grilli was awarded the Gold Medal of Bocconi University (1981), the Saint Vincent Prize for Economics (1992), the Tarantelli Prize for the best economic idea (2004), the 2005 Bocconi Prize, and the Guido Carli Prize for the best new financial initiative - Fund for SMEs (2010).[1] In 2011, he was also awarded Grand Cross Knight (Cavaliere di Gran Croce).[1]

Personal life[edit]

Grilli's spouse, Lisa Lowestein, is an art expert.[18] It was rumoured that she was hired by the Finmeccanica group as a consultant in September 2012.[18] However, the firm denied the reports.[18]

References[edit]

  1. ^ a b c d "Minister". Ministry of Economy and Finances. Retrieved 5 September 2012. 
  2. ^ a b "Vittorio Grilli". Bruegel. Retrieved 4 September 2012. 
  3. ^ "Vittorio Grilli, Governor for Italy". European Investment Bank. 17 July 2012. Retrieved 4 September 2012. 
  4. ^ "Rochester Review". University of Rochester. Retrieved 16 September 2012. 
  5. ^ a b c "Vittorio Grilli to replace Mario Monti as Italy's new finance minister: Government". The Economic Times (Rome). 11 July 2012. Retrieved 4 September 2012. 
  6. ^ "Italy names new finance minister to replace Monti". Europost. 13 July 2012. Retrieved 9 September 2012. 
  7. ^ a b c "Vittorio Grilli named Italian Economy Minister". Europe Online Magazine. 11 July 2012. Retrieved 5 September 2012. 
  8. ^ a b Lorenzo Totaro; Vernon Silver (20 December 2012). "Italy Minister Chasing Evaders Shows Home Value below Market". Bloomberg. Retrieved 22 December 2012. 
  9. ^ "Italians are taking over the running of the eurozone". European Voices. 10 March 2011. Retrieved 14 September 2012. 
  10. ^ "President". EFC. Retrieved 14 September 2012. 
  11. ^ "Monti Cabinet Approves Grilli as Deputy Finance Chief, ANSA Says". Bloomberg. ANSA. 28 November 2011. Retrieved 9 September 2012. 
  12. ^ "Vittorio Grilli to replace Mario Monti as Italian Finance Minister". RET News. 11 July 2012. Retrieved 8 September 2012. 
  13. ^ a b "Vittorio Grilli appointed Italy's new Finance Minister". FX Street (Barcelona). 11 July 2012. Retrieved 5 September 2012. 
  14. ^ Castle, Stephen (13 July 2012). "EURO WATCH; Better News in Europe Fails to Lift Markets". The New York Times. 
  15. ^ Emsden, Christopher (9 September 2012). "Monti Says Italy Seeks Stability". The Wall Street Journal. Cernobbio. Retrieved 10 September 2012. 
  16. ^ "Italy's new cabinet lineup". Xinhua (Rome). 28 April 2013. Retrieved 29 April 2013. 
  17. ^ "Italian cabinet comes together". Euronews. 28 April 2013. Retrieved 7 September 2013. 
  18. ^ a b c Zingales, Luigi (2 October 2012). "The Need for Transparency". Il Sole 24 Ore. Retrieved 27 April 2013. 
Political offices
Preceded by
Mario Monti
Minister of Economy and Finances
2012–2013
Succeeded by
Fabrizio Saccomanni