Fondazione Cassa di Risparmio di Cuneo, Italy

Founded in 1992, Fondazione Cassa di Risparmio di Cuneo supports social welfare and the fostering of economic development in Cuneo province, Italy. It is active in the areas of arts and cultural heritage; education, knowledge and training; public health, preventive medicine and rehabilitation; assistance to the elderly; and sport.

Franco Chittolina, – Director of the Centro studi

Cuneo province, in the north-west of Italy on the border with France, is, according to surveys in the newspaper Il sole 24 ore, one of the wealthiest areas in Italy, with a number of small and productive enterprises. Nevertheless, in the last few months, even this historically flourishing region has not been immune to the effects of the global financial crisis.

To help address this unexpected situation, and also to counter a general tendency to underestimate the progressively worsening effects of the crisis, we at Fondazione Cassa di Risparmio di Cuneo began in early 2009 to systematically collect data, figures and information on the trends at European, national and local level. This exercise, carried out by our Centro studi, progressively highlighted the extent of the crisis and all the unexpected challenges it throws up, particularly at local level, and with a totally unpredictable duration.

The studies produced by our Centro studi always pay particular attention to data and information coming from the European Union and international organizations such as the IMF or OSCE, especially those concerned with economic growth, production and employment. We are committed to disseminating as much information as possible on EU policies and best practices in Europe on areas related to our own activities (social policy, culture, research, the fight against poverty).

This research exercise enabled us to analyse the progress of the financial crisis and to report data relating to unemployment subsidies and special social security funds. We also noted an alarming reduction in apprenticeship opportunities and an increase in the requests for labour mobility. The figures produced clearly demonstrate the increase in unemployment at local, national and European level.

In order to concentrate all available local resources on coordinated and shared activities, we sought all possible opportunities for discussion with others involved in decisions and interventions related to the crisis, formulated innovative proposals and looked for new partnerships. Although launched before the crisis began, our so-called Progetto Fiducia (Confidence Project) was particularly significant here. It was launched in partnership with the Banca Regionale Europea and some of the local dioceses to offer soft loans for people experiencing temporary difficulty in meeting basic needs such as living expenses, rent and healthcare.

Another project involves making advance payments of subsidies to temporarily unemployed workers. These subsidies are normally granted by the national social security body to enterprises in temporary difficulty or undergoing restructuring, but there is an average delay of four of five months. The advance payments helped ease the hardships these delays can cause. Finally, grants to local charity and solidarity institutions will help Italian and immigrant families to avoid serious deprivation.
Next autumn, with the likelihood of increased unemployment owing to the failure of businesses, we can expect more requests for support from people without income or social protection. We are preparing an urgent and ‘extraordinary’ intervention, the form of which will be decided as soon as all the data is available. This intervention might be related to Progetto Fiducia, the microcredit initiative already in place.

In the meantime, we can confirm our commitment to the support of local development, in particular in innovative fields such as education and research, so that the territory’s economic recovery at the end of this crisis will be as quick as possible.

For more information
www.fondazionecrc.it
centro.studi@fondazionecrc.it