National Interest Project

Foreign Press, Italy's success stories

Eighth summary report

Analysis for the period November 20, 2009 to February 13, 2010

© This document is for the exclusive use of Aspen Institute Italia

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Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

Introduction This summary aims to give a brief overview of the image of Italy conveyed by the major international print and electronic media between November 20, 2009 and February 13, 2010.

As the world economy began to show its first signs of recovery, the international press readily dedicated coverage to Italian business success stories, primarily charting the country’s good performance in the face of the difficult economic situation through articles on the growth of Italian businesses in foreign markets.

Still attracting much media attention was the Fiat-Chrysler integration, though new deals – such as Mediaset’s expansion in the Spanish television market – were also reported in the monitored newspapers. Meanwhile, coverage of Italy in the papers of emerging economies continued to focus on “Made in Italy” products and fashion.

In the period covered by this summary report, personalities from the Italian cultural scene featured little in the foreign press. There were also very few references to exhibitions of Italian art. In contrast, sports-related coverage of Italy was up on the previous reporting period.

Work carried out for “Foreign Press, Italy's success stories” (with updated figures) On a daily basis since April 1, 2007, the analysis has covered depictions of Italy in the most influential foreign print and electronic news media titles (a list of which can be found at the end of this summary report).

Over the course of 32 months, over 8500 articles have been considered. These items have been divided into three topic areas: - “Italian Business”, relating to views on Italian companies and Italy’s economic policies; - “Italian Culture/Italian Life”, which deals with cultural, social, natural heritage and, hence, tourism-related aspects of the country; and - “People from Italy”, a section dedicated to profiles of and material written by our fellow Italian citizens.

A decision was made not to take into account any views of a strictly political nature in monitoring the foreign press for articles on Italy. Over 2000 articles, selected on the basis of their relevance to the abovementioned topic areas, have so far been added to the publicly-accessible section of the Aspen Institute Italia website. ------2 For personal use only. This document is to be used exclusively for Aspen Institute Italia institutional purposes.

Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

Commencing from this reporting period, the analysis also included major international scientific journals with a view to identifying studies conducted by Italian researchers and academics. This new initiative is aimed at highlighting Italy’s contribution to global knowledge production.

Commentary on Italy in the foreign press

Fiat still in the spotlight: relaunching Chrysler under new management Over the last two months, the international press kept the spotlight on Fiat’s relaunch of US carmaker Chrysler. Coverage of the story focused not only on industrial strategies, but also on the Italian managers charged with pulling off the operation. One of these, Alfredo Altavilla, CEO of Fiat Powertrain Technologies, was profiled at length in the January 26 edition of the International Herald Tribune, which noted that he “spends at least as much time in Michigan as Italy these days, […] to oversee progress in building the engine that’s vital to making the Chrysler Group LLC partnership run”. The piece went on to describe him as “the most likely candidate” to succeed Marchionne in running Fiat’s automotive business.

The foreign press also continued to focus on the business strategies of the Turin-based group, both in Italy and abroad. On December 19, the financial pages of the United Arab Emirates daily Gulf News examined the US automaker’s efforts to integrate the Lancia and Chrysler brands in an article entitled “Chrysler to debut first Fiat-designed car”.

Similar coverage was given to the Italian car group by The Wall Street Journal, which (on December 23 and 24) carried two articles revealing Fiat’s plans for its Italian factories and those of its US offshoot. On the occasion of the Detroit Auto Show, the New York-based finance paper turned its focus on Sergio Marchionne (on January 12), referring to the hard work done at Chrysler in the previous months. The article stated that, over that period, Marchionne had “ousted several veteran executives, [and] flattened [… the company’s] bureaucracy”. The Financial Times (on January 13) dedicated an editorial to the group’s CEO, entitled “A long haul for Detroit’s new prince”.

The major French newspapers also devoted considerable attention to Fiat’s plans. Between late December and early January, Le Figaro and business dailies La Tribune and Les Echos reported on the Turin-based company’s strategies, focusing on the firm’s renewed investment in its home

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Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

country, as emphasized by the headline in Les Echos (on December 23): “Fiat commits to investing in Italy”.

January 25 saw the publication of the Italian group’s annual accounts. The following morning, all the major international newspapers covered the story, underlining that despite the losses sustained as a result of the difficult economic situation in 2009, Fiat could look forward to the future with confidence. “Fiat loses 848 million but is optimistic and will issue dividends”, ran the headline in Spain’s La Vanguardia, whilst The Wall Street Journal noted that, according to financial analysts, 2010 would be “a year of transition and stabilization”.

The Spanish newspapers, for their part, devoted special attention to Fiat’s sporting brands, following the contract signed by Fernando Alonso to race for Ferrari in the Formula One World Championship. In two articles (on January 28 and February 5), El Mundo examined the appeal of the Alfa Romeo brand and its integration with Maserati, whilst ABC (also at the end of January) gave considerable coverage to Ferrari and its new sponsorship deal with Banco Santander. On January 19, El Mundo featured yet another article on the company, this time concerning the problem it faced with fake merchandise carrying its prancing horse emblem. The Madrid-based paper noted that “Ferrari is instructing police on how to distinguish genuine from counterfeit products”.

“Made in Italy” exports pick up on the back of recovery On the back of the first signs of global recovery, demand for “Made in Italy” exports returned to growth. The business pages of foreign newspapers carried several articles focusing on the export performance of Italian businesses. The first to tout the new encouraging signs for Italian exports was France’s La Tribune in an article (on January 2) entitled “Made in Italy exports underpinned by Asian recovery”, which highlighted that: “Exports from the country that some unjustly considered the “sick man of Europe” have broken all records”.

La Tribune (on December 24) featured yet another Italian success story, reporting on the increase in sales and the growth in China of footwear manufacturer Fratelli Rossetti. The good performance of Italian products, especially luxury goods, also received ample coverage in the English-language newspapers of emerging markets. On December 7, Gulf News reported how Lamborghini’s sales had exceeded expectations, whilst the January 19 edition of China Daily highlighted the excellent

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Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

prospects for 2010 of fashion house Ferragamo. The same Chinese paper, in an article on December 1, had praised Armani’s new online sales strategies.

The Italian fashion and design industries received much attention from the international press during the period covered by this report. On December 7, the German Süddeutsche Zeitung profiled Italian company Artemide, focusing on its innovative efforts in the field of lighting design, while on December 11, the Financial Times reported on the latest deal signed by Safilo to produce eyewear under the Tommy Hilfiger brand, and the December 29 edition of Le Monde carried an article on the products of the Italian leather goods label Bottega Veneta. Le Figaro (on January 16) dedicated a page to the style of Dolce & Gabbana and, on the following day, the Financial Times reported comments by Giorgio Armani regarding his future in business.

The economic importance for Italy of another of its top-performing sectors, the agro-food industry, was also highlighted in the foreign press. The Süddeutsche Zeitung (on December 8) featured an article on Francia Mozzarella’s investment in Germany geared to the production of organic products, whilst on December 29, the Financial Times carried an in-depth profile examining the Barilla family’s business strategies. In the article (entitled “Pasta barons with enough on their plate”), the British newspaper quoted Paolo Barilla – the youngest of the three brothers who head the company – as saying: “In 20 years I would wish Barilla to be stronger, healthier and safer”.

The Italian corporate groups out to conquer foreign markets December 21 brought encouraging news on the foreign expansion front for Italian company groups, when the Financial Times reported the agreement reached by Mediaset for the acquisition of another television network in Spain. “The deal”, stated the British daily, “is the Italian company’s biggest expansion abroad since 2007 when it joined a consortium to buy Endemol”. The story was also covered by the Spanish media, which examined the Italian group’s growth in detail. The Spanish business daily Expansión (on January 15) noted that “the operation will be conducted by a team of managers, led by Niccolò Querci, former aide to Berlusconi and Executive Director of RTI”.

Rumors of a possible takeover of Telecom Italia by Telefonica were reported in the Brazilian press, with the February 9 edition of O Globo highlighting the possible impact the deal would have on the local market. Also in early February, the Spanish paper El Mundo featured an article (on February 2) looking at the good stock market performance of Telecom Italia, whilst two articles in the

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Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

Financial Times (on February 3 and 4) reported the Italian government’s views on the proposed takeover.

After having devoted much attention to a possible takeover of Cadbury by Ferrero, the foreign press then sought to analyze the reasons that led the Italian confectionary group to pass up on the deal. The Financial Times, in an article on January 14, spoke of an “object lesson” given by Ferrero to the financial community in “the risks inherent in ambitious dealmaking”. The main French business daily Les Echos (on January 19), in a long article entitled “The Ferreros, autonomy, wealth and chocolate”, examined the cautious strategy pursued by the family from Alba.

Lastly, international press attention also focused on another of the great Italian family-run groups, namely, Benetton. On November 23, Les Echos published a long interview with Alessandro Benetton, which set out his views on the current economic crisis and his recovery forecasts for the group and the industry in which it operates. On December 17, Le Figaro spoke instead to Gilberto Benetton with a view to shedding light on the growth of Autogrill in France, whilst the Handelsblatt (on January 20) reported on a possible management shakeup within the group.

The Italian economy and its response to the crisis Several international newspapers commented favorably on the Italian economy’s response to the crisis. The Wall Street Journal dedicated its page-two editorial (on December 14) to Italy, stressing that “Italy’s economy has substance”, and that the increase in the unit value of its exports (the “Gucci Effect”, as the US newspaper termed it) “might enable Italy to avoid competing with China”. By way of confirmation of its views on the Italian economy, the American financial daily then published an editorial on January 19 by Corrado Passera, Chief Executive of Intesa Sanpaolo, entitled “Italy is vital to European economic recovery”.

There was a similar focus on the positive signs coming from the Italian economy in Les Echos, which on February 1 ran an article headlined “Italian companies held up relatively well against recession in 2009”, whilst Germany’s Handelsblatt of the same date reported on the efforts of Confindustria in combating not just the crisis but also organized crime. Finally, a more recent item in the Brazilian paper Valor Economico (February 8) highlighted the fact that Italy is not affected by the specter of insolvency looming over other countries in southern Europe.

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Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

A key feature of the Italian response to the crisis has been the economy’s capacity for innovation, which has been particularly the case with small and medium enterprises. The international press acknowledged this aptitude, running several articles that featured Italian business success stories. On January 29, the German paper Handelsblatt spoke of the “quiet growth” of the Perfetti Van Melle confectionery group, and on February 10, the Financial Times profiled Roberto Sigari’s business venture Eurotech.

The Italian academic sphere has also contributed to this ability to innovate. In an article dealing with the ‘brain drain’ problem, Le Monde (on December 25) cited the virtuous example of the IMT institute for advanced studies in Lucca, which, according to the French newspaper, continues to attract researchers from abroad.

Another important sector in terms of the economic response to the crisis is the Italian banking industry, with international newspapers also devoting space to news stories involving Italy’s financial institutions. On December 16, La Tribune gave an account of the internal restructuring of Unicredit, whilst Les Echos (of January 12) reported on the Banca Leonardo’s growth strategy. Finally, early in February, the foreign press began to focus on proposed leadership changes within the Assicurazioni Generali group, with the story being covered by both Les Echos (on February 3) and the Financial Times (February 4), the latter reporting on the moves afoot for the control of the insurance group, described as possessing “wealth, prestige and potential influence within the Italian [financial] system”.

Italians on the international stage An assessment of the future of Europe and the eurozone: thus began the profile of Pier Carlo Padoan, Chief Economist and Deputy Secretary-General of the OECD (Organization for Economic Cooperation and Development), interviewed by Le Figaro on December 22 and then by Les Echos on January 4. The two French papers approached Padoan to gain a clearer picture of the economic performance of the EU, but also to highlight Padoan’s gift for explaining clearly the systems and failings of the European economy compared to that of America (“the eurozone, on the whole”, Padoan was quoted as saying, “will come out of the crisis with the same difficulties as it had going in, unlike the United States”).

Alongside prominent personalities holding key positions in European and international organizations, figures from the business world were also featured in the international press during

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Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

the reporting period. They ranged from Andrea Illy, to whom the Handelsblatt devoted an entire page on January 14 (emphasizing the attention that must be paid by “every modern firm to sustainability and the enhancement of quality of life in formulating new growth models”), to Diego Della Valle, whom the Frankfurter Allgemeine Zeitung profiled on January 16 (noting that “the contrast between the performance of Della Valle’s company and that of other big names in the industry is striking. He, more than others, while struggling against the crisis, has shown originality and strength in developing his business, rethinking brand strategy and reinterpreting his role as an entrepreneur”). Le Monde (on February 1) featured a lengthy interview with Fulvio Conti, Enel’s CEO, which looked at the energy diversification strategies the group is pursuing, with a firm eye on sustainability and eco-compatibility. On February 5, it was the turn of Vittorio Colao, who, according to The Times, has succeeded in “significantly improving the performance of Vodafone, despite the structural crisis, demonstrating he has more spring in his step than his predecessors”.

During the period of this report, there were hardly any references to leading lights from Italy’s cultural and artistic scene. Only El Mundo (on December 14) obliged with an opera-related piece profiling mezzo-soprano Cecilia Bartoli. In contrast, Italian sporting personalities were given considerably more coverage than in previous reporting periods. On November 30, various non- European newspapers (including the Shanghai Daily, Gulf News, The Hindu, and Arab News) as well as the British daily The Guardian turned their focus on “an unprecedented success for Italian golf”, when Francesco and Edoardo Molinari won the World Cup of Golf. The Independent (of December 22) featured a long article on all the Italian football coaches working in England, whilst The Guardian (on January 14) focused in particular on Roberto Mancini, examining the new tactics he has mapped out for Manchester City. Finally, on January 23, Le Monde reported on Carolina Kostner winning the women’s title at the European figure skating championships.

The enigmatic Leonardo and Piero della Francesca, and the ‘legendary’ Caravaggio Exactly who was Leonardo’s La Gioconda (aka the Mona Lisa)? The foreign print media took a keen interest in the mystery surrounding Leonardo’s painting. According to more credible theories, she was the painter’s mother, while others claim it is the face of Lisa Gherardini (the wife of Francesco Bartolomeo del Giocondo). Recently, however, Lillian Schwartz’s theory that it is a self- portrait of Leonardo himself has been increasingly gaining ground. Expert debate over the picture (which has included recent requests for the exhumation of the painter’s remains to compare his face with that in the famous portrait) was covered by many foreign newspapers, including The Sunday

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Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

Times (on January 24), ABC (on January 26), Arab News (on January 30) and the Süddeutsche Zeitung (on February 3).

The Süddeutsche Zeitung (on January 22) featured a piece on Piero della Francesca’s “Flagellation of Christ”, held in Urbino. “His works”, read the article, “are wonderfully suspended between art, geometry, and a complex interpretive scheme, in which theological and philosophical issues and evocations of the society of his time all merge”.

Finally, Die Welt (on November 24) carried a feature on Caravaggio’s ‘Judith beheading Holofernes’. With this painting, it observed, “the master of light fueled his own legend” by portraying the girl “in the horrific act of decapitation and the twisted head of the vanquished man – illuminated, perhaps, by Grace”.

Exhibitions: from painters to the masters of cinema “A journey of discovery of the charms of light and color” was how the International Herald Tribune (of December 19) described the exhibition dedicated to Federico Barocci, the 16th-century Sienese painter. “Barocci”, noted the article, “is now recognized as not only anticipating the Baroque and Rococo, but being a formative force in their creation”. The Financial Times (of February 4) reviewed an exhibition in Budapest, which ran till mid-February, of around a hundred masterpieces from the Italian Renaissance. In addition to works by Botticelli and Titian, there were paintings by masters such as Leonardo, Giorgione, Raphael, Veronese, Perugino, Tintoretto, Palma Vecchio and many others. “The exhibition offers visitors the opportunity to enjoy absolute masterpieces of art history. For the first time in Hungary, the Italian Renaissance shines through this spectacular and magnificent exhibition”.

Impressionists in search of “another Italy” was the theme of an exhibition held in the city of Nantes recently, which formed the subject of an article in the February 11 edition of La Tribune. The piece looked at how the key figures of French Impressionism had concentrated on Milan, Venice and the surrounding countryside, as well as the Bay of Salerno, and kept away “from the well-beaten paths” of Lazio and Tuscany.

In terms of illustrators, Le Monde (on November 27) looked at the works of Roberto Innocenti, whom it declared as having now become “one of the leading representatives of the rich and original Italian school of drawing”. Finally, the January 14 edition of the Frankfurter Allgemeine Zeitung

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Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

explored Italian cinema, drawing its readers’ attention to an exhibition held at the Austrian Film Museum in Vienna dedicated to “commedia all’italiana”, and particularly to the works of Roberto Rossellini.

Italian cinema, theater and literature Master filmmakers and recent talent were the watchwords of foreign press coverage of Italian cinema during the period of this report. This time round, the focus was on two names: Marco Bellocchio and Federico Fellini. Le Monde (on November 25) reviewed Bellocchio’s ‘Vincere’, noting his ability to “use the camera to deal with the issues of alienation of the individual and the rigidity of institutions and society”. El Pais (on January 31) turned its attention to an exhibition at the National Cinema Museum in Turin dedicated to Federico Fellini and “La dolce vita”, recalling the words of Indro Montanelli: “Fellini, with that film, has reached the same heights Goya did with painting”.

In the field of opera, many column inches were given over to the opening of the new season at La Scala in Milan. This year, Bizet’s Carmen was chosen to get the season underway, a production on which the opinions of foreign journalists were divided. On December 9, it received positive reviews in both Die Welt and the Frankfurter Allgemeine Zeitung, whereas Le Figaro (of the same day) felt the performance was “honest” but failed to “make an impression”.

The Süddeutsche Zeitung (of January 27) reported on the reopening of the Teatro San Carlo in Naples, with the staging of a production of Mozart’s “La Clemenza di Tito”. “The San Carlo”, declared the Munich-based paper, “is one of the most important landmarks of the Neapolitan cultural identity. Every detail of its interior speaks of ancient traditions”.

References to great Italian literature in the foreign press during this reporting period were, in contrast, few and far between. On November 27, Le Monde recalled the writers Cesare Pavese and Primo Levi, whilst an article in El Pais (on January 25) made reference to Italo Calvino’s Italian Folktales.

From the South to the North: with a few surprises along the way The new “key to the Mediterranean” that “not only forms a natural bridge to Africa” but also represents the linchpin for investment and “hopes for the development of renewable energy”: this was how Les Echos described Sicily in two extensive articles devoted to the region (published on

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Foreign Press, Italy's success stories – Summary for November 20, 2009 – February 13, 2010 (cont.)

December 14 and 21). The island was described as a cornerstone that “should become a focal point for investors who believe in the green economy”. On February 11, Die Welt focused instead on showcasing the island’s artistic heritage, with a tour that centered primarily on the Valley of the Temples (in Agrigento), Taormina and Palermo. The Süddeutsche Zeitung (on the same day) contained an article reporting on new mafia-free shopping itineraries mapped out by the antiracketeering group Addio Pizzo, which promotes “ethical holidays” by raising awareness of the existence of many businesses that have shaken off the shackles of the mafia.

Turning its attention further northwards, the Gulf News (on December 23) featured the region of Campania, revealing the efforts being made by the city of Naples (and the region itself) to attract foreign investors and restore its image.

After a long absence from the foreign press (with international journalists over the last year having shown interest in other regions), Emilia Romagna made a reappearance. The New York Times (on December 27) contained a feature on Parma, exploring all the sites (particularly the Charterhouse) that, according to tradition, were visited by Stendhal. There was also the obligatory reference to Venice in the Financial Times (on January 15), this time described in its winter garb: “In winter, Venice is different from how we often imagine it”, wrote Mark Hudson. “It seems to revert to an earlier version of itself, and the sense of an ancient, decaying city comes to the fore”.

Many foreign papers also featured articles on alpine tourism destinations in Italy: including Tirano (in the Süddeutsche Zeitung on January 21), Cortina d’Ampezzo (in The New York Times, January 24), and Mont Blanc and the city of Aosta (in El Pais on December 26).

The Wall Street Journal (January 29) featured an article on Piedmont’s offerings for hiking devotees, furnishing the piece with an enthusiastic showcase of the wines and gastronomic specialties of the region. Finally, El Pais (on February 6) also contained an item on Italian wines, focusing in this case on product from Friuli-Venezia Giulia.

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Foreign Press, Italy's success stories– Summary for August 1 to November 15, 2009 (cont.)

Newspapers monitored

™ Great Britain: ™ India:

Financial Times Print edition The Hindu Print edition The Guardian Print edition The Times of India Print edition The Independent Print edition The Times Online edition ™ Israel: The Sunday Times Online edition The Jerusalem Post Print edition

™ France: ™ United Arab Emirates:

Le Monde Print edition Gulf News Print edition Le Figaro Print edition Les Echos Print edition ™ Saudi Arabia: La Tribune Print edition Arab News Print edition ™ United States: ™ Algeria: The Wall Street Journal Print edition La Tribune Print edition The New York Times Print edition ™ Morocco: International Herald Tribune Print edition Le Matin Print edition The Washington Post Print edition ™ South Africa: Los Angeles Times Print edition The Citizen Print edition

™ Germany: ™ Japan:

Frankfurter Allgemeine Zeitung The Japan Times Online edition Print edition Nikkei Online edition Süddeutsche Zeitung Print edition ™ Brazil: Handelsblatt Print edition Die Welt Print edition Folha de S.Paulo Print edition O Globo Print edition ™ Spain: Valor Economico Print edition

El Pais Print edition ™ Australia: El Mundo Online edition ABC Print edition The Australian Print edition Expansión Print edition La Vanguardia Print edition

™ Russia:

The Moscow Times Print edition

™ China:

China Daily Print edition Shanghai Daily Print edition

------12 For personal use only. This document is to be used exclusively for Aspen Institute Italia institutional purposes. Foreign Press Center – Summary for August 1 to November 15, 2009 (cont.)

Periodicals monitored

™ France:

Monde diplomatique Print edition Le Nouvel Observateur Print edition

™ United States:

Time Print edition Newsweek Print edition BusinessWeek Print edition Fortune Print edition The New Yorker Print edition

™ Great Britain:

The Economist Print edition

™ Germany:

Der Spiegel Print edition Die Zeit Print edition

Scientific journals monitored

™ Science Print edition

™ Nature Print edition

™ The Lancet Print edition

™ New Scientist Print edition

™ Science et Vie Print edition

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