In May 2006, Tommaso Padoa-Schioppa accepted the post of Italian Minister for the Economy and Finance in the government headed by Romano Prodi until May 2008. Giuliano Amato and Ignazio Visco discuss the circumstances and reasons surrounding this appointment. Giuliano Amato also particularly mentions Tommaso Padoa-Schioppa’s stance on the question of public spending in Italy during his time in office. Christian Noyer explains the reasons that led Tommaso Padoa-Schioppa to accept this post. He notes that Tommaso Padoa-Schioppa was encouraged by the Executive Board of the European Central Bank to accept this new role.
Alfonso Iozzo describes the action taken by Tommaso Padoa-Schioppa to cut government deficits, his commitment to reducing tax evasion in Italy and the difficulties he encountered in the area of public communication. Jacques de Larosière highlights the parallel between the political careers of Tommaso Padoa-Schioppa and Mario Monti. Romano Prodi discusses the opposition to Tommaso Padoa-Schioppa and his difficulties in developing effective political communication, but welcomes the results he secured in deficit reduction. Romano Prodi also expresses his regret at the fall of his government just as the first signs of economic recovery were starting to appear.
Jean-Claude Trichet explains how he listened with interest to each of Tommaso Padoa-Schioppa’s contributions within the Eurogroup and recalls their discussions on economic and financial issues during this period. He also describes how Tommaso Padoa-Schioppa put his pro-European integration beliefs into practice in his role as Minister for the Economy and Finance. Gaëtane Ricard-Nihoul describes how Tommaso Padoa-Schioppa combined his role as Italian Minister for the Economy and Finance from 2006 to 2008 with his position as Chairman of Notre Europe during the same period.