Constitutional Roots of Savings and its Legal Safeguards

Abstract

This paper aims to set out and analyse the area of savings in Italy from the start of its constitutional history, epitomised by art. 47, Italian Constitution, and later on across the multifarious events of the banking industry. On such a background, the paper discusses in depth the influence of European law, particularly competition mechanisms of the common market, but also the «objective» and the «public» dimension of savings consistently with the framework of the Italian constitution. Finally, this piece highlights that there is a need for better interpreting and valuing paragraph 2 of art. 47, Italian Constitution, and its social-oriented concept of «public savings».