THE TALK: Helicopter Money for everyone

According to Federico Gauttieri, CEO of Casato, this is the best way to get out of the crisis. Along with a good dose of dynamism, consumers’ desire to get back to normal and the ability of companies to create desire

Have you taken any steps to minimize the impact of this situation caused by COVID-19?
We have tried to minimize the impact that this crisis may have on the financial sector, through a reduction or elimination of all non-primary costs and also by exploiting the tools made available by the Italian government, but we have left the communication initiatives intact. Of course, we need to see how consumers will return to normal and whether this normality will be total or limited. Without a doubt, some adjustments are going to be made in each company's business model. In the first instance, it will be necessary to concentrate on the accounts, because the revenues will undergo a contraction which is difficult to quantify at the moment, and consequently the available resources will decrease. All of our customers work in markets that have been closed due to the health emergency, so we are stuck in both production and distribution right now. Every day we are committed to keeping in touch. Then, when all this period is over, we must be able to speak to consumers, and I strongly believe that design and the ability to create desire are our best weapon.

What strategies are you devising in order to turn this particular moment into an opportunity?
Now we are mainly focusing on design. From this point of view, we have never stopped, we are actually in full swing. We have more time to translate our thoughts into jewelry. In a broader sense, we belong to trade associations and we are open to any initiative from which the sector can benefit. Good ideas work for everyone. On the contrary, I think that vague assertions made by this or that person with the aim of creating enthusiasm and aggregation in the wake of the moment, if not immediately followed by any concrete facts, just remain no more than empty words. Of course, in order to restart the economic engine, dynamism along with consumers’ desire to get back to normal will make the difference.

A comment on “Cura Italia”decree…
I agree with the part relating to business support through layoffs, while with regard to economic support for businesses through State-guaranteed loans, it seems to me that it is not so clear how funds can be transmitted from the State to the banks and from the latter to businesses. Personally, I would have preferred a “Helicopter Money”-type measure to allow citizens to face this period without worries, which would then result in consumption in the near future.

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