Paolo Baffi
Paolo Baffi | |
|---|---|
| Born | August 5, 1911 Broni, Italy |
| Died | August 4, 1989 (aged 77) |
| Occupation(s) | Economist, academic, banker |
| Known for | Governor of the Bank of Italy (1975–1979) |
Paolo Baffi (5 August 1911 – 4 August 1989) was an Italian economist, academic, and banker who held the position of Governor of the Bank of Italy between 1975 and 1979.
Biography
Originating from Broni, Baffi assumed the role of Governor at the Bank of Italy in 1975, taking over from Guido Carli. His nomination received backing from various political groups, including the Republican Party and Christian Democracy under Aldo Moro’s leadership, as well as the opposition Italian Communist Party.
In 1979, he stepped down amid a judicial probe launched by magistrates in Rome, which involved the Caltagirone construction company—an entity with substantial liabilities to the Bank of Italy—and internal factions within Christian Democracy. The investigation was directed by deputy prosecutor Luciano Infelisi and judge Antonio Alibrandi and also concerned vice-director Mario Sarcinelli. Although Baffi enjoyed considerable support from both the judiciary and public opinion, he chose to resign in September 1979 to prevent further disputes. Prior to his departure, he proposed Carlo Azeglio Ciampi as his replacement to Prime Minister Francesco Cossiga.
Baffi was eventually cleared of all accusations, which were judged to lack merit. It is believed that the charges were connected to his efforts in defending Italy’s interests during discussions related to the European single currency.
Subsequently, he was appointed honorary governor and held roles as advisor and vice-president at the Bank for International Settlements (BIS) from September 1988 until his passing in 1989. In 1990, the Bank of Italy dedicated its library in his memory.
Honour
- : Knight Grand Cross of the Order of Merit of the Italian Republic (2 June 1965)
Bibliography
- Il problema monetario italiano sullo scorcio del 1944 (Padova: CEDAM, 1948)
- Il dollaro e l'oro (Padova: CEDAM, 1953)
- Studi sulla moneta (Milano: Giuffrè, 1965; reprint Soveria Mannelli: Rubbettino, 2011)
- Nuovi studi sulla moneta (Milano: Giuffrè, 1973; reprint Soveria Mannelli: Rubbettino, 2011)
- L'indebitamento esterno dei Paesi in via di sviluppo: situazioni e prospettive (Roma: Tipografia del Senato, 1986)
- Testimonianze e ricordi (Milano: Libri Scheiwiller, 1990)
- Le origini della cooperazione tra le banche centrali: l'istituzione della Banca dei regolamenti internazionali (Roma-Bari: Laterza, 2002)
- Parola di Governatore, edited by Sandro Gerbi and Beniamino Andrea Piccone (Torino: Aragno, 2013)
- Anni del disincanto. Lettere 1967-1981, edited by Beniamino Andrea Piccone (Torino: Aragno, 2014)
- Servitore dell'interesse pubblico. Lettere 1937-1989, edited by Beniamino Andrea Piccone (Torino: Aragno, 2016)
- Via Nazionale e gli economisti stranieri. 1944-1953, edited by Beniamino Andrea Piccone (Torino: Aragno, 2017)