Luigi Spaventa

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Luigi Spaventa
Luigi Spaventa.jpg
Minister of Budget
In office
28 April 1993 – May 1994
Prime MinisterCarlo Azeglio Ciampi
Minister of Treasury
In office
Personal details
Born(1934-03-05)5 March 1934
Died6 January 2013(2013-01-06) (aged 78)
Alma materSapienza University of Rome

Luigi Spaventa (5 March 1934 – 6 January 2013) was an Italian academic. He served as a cabinet minister at different Italian governments. He was a member of the Italian Parliament from 1976 to 1983.

Early life and education[edit]

Spaventa was born in Rome on 5 March 1934.[1][2] In 1957 he received a degree in law at the Sapienza University of Rome.[3][4]


Following graduation Spaventa worked as a visiting scholar at Oxford University, the International Monetary Fund and at Cornell University.[5] Then he returned to Italy and was a professor of economics at the universities of Palermo and Perugia.[2] Next he became a faculty member and professor of economics at the Sapienza University of Rome.[5]

In 1976, he was elected to the Italian Parliament and served there until 1983.[5] He was an independent deputy with the Communist Party.[1] He was the minister of treasury from 1988 to 1989 and the minister of budget from 1993 to 1994.[1] In the latter post he was part of the cabinet led by Prime Minister Carlo Azeglio Ciampi[6] and was close to the Democratic Party of the Left.[7] From 1988 to 1989 he was the chairman of the scientific consulting for the management of the public debt formed by the Italian treasury.[8] From 1992 to 1993 he served as the coordinator of the council of experts at the general department of treasury.[8]

He ran for a parliament seat from Rome in the 1994 elections[9][10] but did not win.[11] He was part of the Democratic Alliance during this period.[9] In 1994, he became a member of the editorial board of the journals, Moneta e Credito and Banca Nazionale del Lavoro Quarterly Review.[3] He served as the chairman of Banca Monte dei Paschi di Siena from 1997 to 1998.[5] From 1998 to 2003 he was the chairman of the Commissione Nazionale per le Societa e la Borsa or CONSOB, the Italian public authority responsible for regulating the Italian securities market.[8]

Later he was promoted to the title Professor Emeritus at the Sapienza University of Rome.[1] He was the co-founder of CER, the Centro Europa Ricerche.[3] He was also a board member of Banca Nazionale del Lavoro.[12] He wrote for Italian newspapers La Repubblica and Corriere della Sera.[3] He was a member of the Trustees of the International Financial Reporting Standards Foundation from 2008 to July 2010 when he retired from the post.[13][14]

He was named as the non-executive vice chairman of the board of Banca Profilo SpA on 8 June 2009.[8] In addition, he also served as the chairman of the board of Sator SpA to which he was appointed in 2007[4] and of MTS SpA.[8] His other posts include research fellow of the Centre for Economic Policy Research, based in London, member of the steering committee of the Euro 50 Group and a member of the “Group of Wise Men”, appointed by European ECOFIN on the regulation of European securities markets.[2]

Personal life and death[edit]

Spaventa married a British woman.[4][15] He died in Rome on 6 January 2013 at the age of 78 after a long illness.[1][4][16]


  1. ^ a b c d e "In Memoriam – Luigi Spaventa". European University Institute. 16 January 2013. Retrieved 4 January 2014.
  2. ^ a b c Speakers' bio ISD. 2007. Retrieved 5 January 2013.
  3. ^ a b c d Roncaglia, Alessandro (2013). "Luigi Spaventa". PSL Quarterly Review. 66 (266). Archived from the original on 4 January 2014. Retrieved 4 January 2014.
  4. ^ a b c d "Addio all'economista Luigi Spaventa". La Stampa (in Italian). Rome. 6 January 2013. Retrieved 5 January 2014.
  5. ^ a b c d "Luigi Spaventa". VOX. Retrieved 4 January 2014.
  6. ^ "Italian PM includes ex-Reds in Cabinet". New Straits Times. 30 April 1993. Retrieved 4 January 2014.
  7. ^ Peggy Polk (29 April 1993). "Non-politician Puts Italy on Fresh Course". Chicago Tribune. Retrieved 4 January 2014.
  8. ^ a b c d e Non-Executive Vice Chairman of the Board Macro Axis. Retrieved 5 January 2013.
  9. ^ a b William D. Mantalbano (26 March 1994). "Mud Flies as Italian Vote Nears". Los Angeles Times. Rome. Retrieved 4 January 2014.
  10. ^ "Heading for a fall. (upcoming Italian elections)". The Economist. 19 May 1994. Archived from the original on 9 April 2016. Retrieved 17 January 2014. – via HighBeam (subscription required)
  11. ^ "Morto Luigi Spaventa, l'economista che sfidò Berlusconi". la Repubblica (in Italian). 6 January 2013. Retrieved 5 January 2014.
  12. ^ Luigi Spaventa. "Out in the Cold?". Centre for Economic Policy Research. Retrieved 4 January 2014.
  13. ^ "Conclusions of the July 2010 meeting of the IFRS Foundation Trustees Washington DC" (PDF). IFRS. July 2010. Retrieved 4 January 2014.
  14. ^ IASC appointments complete advisory group Accountancy Age. 12 March 2008. Retrieved 4 January 2013.
  15. ^ Patricia Clough (24 March 1994). "Culture Clash in Rome One". The Independent. Retrieved 17 January 2014.
  16. ^ "Addio a Luigi Spaventa, economista che sfidò Berlusconi". L'Huffington Post. 6 January 2013. Retrieved 5 January 2014.