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Read Document National Interest Project Analysis as at February 26, 2008 Private document for the exclusive use of Aspen Institute members ----------------------------------------------------------------------------- 1 Document to be used exclusively for Aspen Institute Italia institutional purposes National Interest Project Foreign Press, Italy's success stories “Etiquette is important in Italy. This is the land of bella figura, meaning good appearances really count”. It might even be because of this trait, as highlighted by the Financial Times correspondent in Milan on November 12, 2007 in an article dealing with etiquette and business, that Italians consider it important to have a good reputation overseas, though it is not the only reason. A positive standing in the eyes of the world means foreign direct investment for the country, making it easier to forge business and intellectual ties, in turn meaning that Italian citizens can travel the world with their heads held high. For the country, it means having international influence, while for Italians, it simply means gaining respect. It is for these reasons that, as part of its National Interest Project, the Aspen Institute Italia has decided to monitor perceptions of Italy and Italians in the foreign print media in order to highlight the strengths of the country and identify the problem areas holding back the national economy and the success of those operating within it, whether they be individuals, cultural institutions or businesses. Work carried out by “Foreign Press, Italy's success stories” On a daily basis, the project has analyzed representations of Italy in 46 of the most influential foreign newspapers. Since April 1, 2007, the Aspen Institute Italia’s “Foreign Press, Italian success stories” section has monitored US, British, German, French, Spanish, Middle-Eastern, South African and Brazilian newspapers and English-language papers published in Russia, China, Japan and India. Over the course of ten months, over 2700 articles have been considered, proof of Italy’s ample exposure in the foreign press. The items examined were then divided into three topic areas: - “Italian Business”, which refers to views on Italian companies and Italy’s economic policy; - “Italian Culture/Italian Life”, which relates to cultural, landscape and hence tourism aspects of the country; and - “People from Italy”, a section dedicated to our fellow Italian citizens. ----------------------------------------------------------------------------- 2 Document to be used exclusively for Aspen Institute Italia institutional purposes The “Italy Made It” category, which was intended to include comments on Italy’s system has been shelved for the moment given the dearth of newspaper coverage of the topic. From the outset it was decided not to take into account views in the foreign press that are strictly political in nature. 579 articles have so far been added to the Aspen Institute Italia website, selected on the basis of their relevance to the abovementioned topic areas. Each week, some twenty further articles are added. Beginning with February, Institute members will also be provided with a new analysis of the issues reported by the foreign press in the preceding three to four months. In quantitative terms, there is a fairly even press coverage of Italy in the countries monitored, particularly in Europe and the United States. Less coverage seems to be dedicated to Italy in the Middle-Eastern, African and South American press, but this analysis refers only to articles that have appeared on the relevant newspapers’ websites in English. From a qualitative point of view, certain differences emerge between the treatment in the various newspapers. Whilst in Germany, France and Spain the press focuses on Italy’s economic aspects, this is less so in the Britain and there is almost no such coverage in American newspapers. Economic analyses of Italy in UK papers would appear to be numerous but are much less so when compared with articles dedicated to culture. France and Germany, as already indicated, demonstrate an interest in Italian companies. In the former case, the tone is favorable, while in the latter the coverage is more critical. Lastly, there is Spain, which for the most part tackles Italian topics when the issues involved are linked to its own domestic interests. ----------------------------------------------------------------------------- 3 Document to be used exclusively for Aspen Institute Italia institutional purposes Positive comments in the international press During the monitoring period, numerous events in Italy received coverage in the international print media. The achievements of banks and big companies The Intesa-Sanpaolo (Les Echos of April 16, 2007) and Unicredit-Capitalia (The Wall Street Journal of May 21, 2007) bank mergers have dominated the economic scene since last spring. These deals led the foreign press to sing the praises of the market openness fostered by the current governor of the Banca d’Italia and have even driven some newspapers to express envy at the current level of supply of credit institutions in Italy, a system characterized by many small banks, capable of bolstering the Italian SME network, and by two financial giants ready and willing to support their internationalization. The Italian banking system, according to commentators, has once again become economical and vibrant. One need only consider the deal struck in autumn by Monte dei Paschi di Siena, which by buying the Banca Antonveneta from the Spanish bank Santander (Les Echos of November 9, 2007) brought a credit institution back into the Italian fold that may already yield profits of 700 million euro next year. The general recovery experienced by Italian companies has not escaped the attention of international analysts either. The few large companies left in Italy today have generated much comment, almost all of it positive. For instance, FIAT and the achievements of its young management team were reported throughout the world. Long articles (two in particular in Fortune of May 14, 2007 and the Financial Times of November 16, 2007) welcomed FIAT’s return to the black (ABC of January 25, 2008) and the commercial success of new vehicles such as the 500 named “Car of the Year 2008” (BusinessDay of November 23, 2007). Then there is Ferrari, now held up as an international teamwork model both as regards Grand Touring car manufacture (Le Monde of October 9, 2007) and sport sponsorship management (El ----------------------------------------------------------------------------- 4 Document to be used exclusively for Aspen Institute Italia institutional purposes Pais of October 22, 2007). The company’s efficiency levels have spawned reams of pages of praise in international newspapers for the company’s managers (Die Zeit of November 23, 2007), designers (Handelsblatt of October 16, 2007) and Formula 1 team (Handelsblatt of November 30, 2007 and the China Daily of November 14, 2007). “How is it possible for a company with only 2870 employees to be the best racing and road car manufacturer in the world?” was the question posed in Le Figaro last October 10, to which the newspaper responded: “Through respect for authority and a flair for efficiency. These are the secrets behind the Ferrari spirit, to which must be added a zest for competition, especially in the field of technological development of automobiles”. Such competitiveness has also been achieved in the complex energy market, with the evident successes of ENI and ENEL. To cite some of the more significant deals, ENI has signed agreements with its Russian counterpart Gazprom (the International Herald Tribune of November 23, 2007), extended the supply contract with Libya by 25 years (the Financial Times of October 17, 2007) and demonstrated its international resolve by not abandoning Iran at a time when fears of new conflicts might have driven others to do so (the Financial Times of November 14, 2007). For its part, ENEL has signed deals with Russia (the Moscow Times of September 10 and October 26, 2007), completed its takeover of Spanish rival Endesa (ABC of October 11, 2007) and launched a new cooperation deal with the French energy company EDF, pursuant to which its first concrete step was to take a stake in the future nuclear reactor at Flamanville (Les Echos of November 29, 2007). Haute couture, a prime example of Made in Italy Similar exposure has also been given to the major haute couture labels and the companies behind them. The worldwide acclaim of brands such as Armani (the International Herald Tribune of January 16, 2008), Tod’s (Die Zeit of October 18, 2007), Dolce&Gabbana (The Times of September 25, 2007), Ermenegildo Zegna (Le Figaro of November 3, 2007) and other major catwalk designer labels seems to continue unabated. This is not limited to fashion weeks, when the newspapers are full of articles dedicated to Italian fashion houses (Die Welt of September 27, and Le Monde of October 2, 2007, to quote two examples) and Milan, which even the French press now sees as the home of men’s clothing (Le Figaro of January 8, 2008). ----------------------------------------------------------------------------- 5 Document to be used exclusively for Aspen Institute Italia institutional purposes The world of Italian stylists is also arousing interest since it is undergoing a radical generational turnover which is seen as positive. Celebrated designers are retiring to make way for recognized emerging talent, with Frida Giannini stepping in as Gucci’s creative director (The Times of September 22, 2007), Riccardo Tisci as head of Givenchy Women (Le Monde of January 24, 2008), Alessandra Facchinetti taking charge of Valentino’s women’s collection (Der Spiegel of September 4, 2007) and Francesca Versace with her new line of clothing (The Japan Times of September 28, 2007), to mention just a few of the more promising names. Sights set on the top-end of the market Milan’s International Furniture Fair (Salone del Mobile di Milano) has been described as “the most important furniture industry event in the world” (The Wall Street Journal of April 27, 2007) and the place “where international careers are made and destroyed” (Le Monde of April 20, 2007).
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