I have strong ties to Sardinia. I studied at university in Cagliari, then moved to Rome, created an international institution in Tor Vergata, and traveled the world, bringing with me, always, a strong appreciation of the strong and loyal character of my Sardinian friends".

The interview with Genoese Luigi Paganetto cannot help but begin with the island that captivated him. His long career in economic studies at the highest levels includes his academic career, particularly at the University of Tor Vergata in Rome, his role as vice president of Cassa Depositi e Prestiti, and his work for the creation and consolidation of the Group of 20, a laboratory of ideas and thought on Europe, also fueled by former ministers Brunetta and Tria.

This is a historic moment in which the economy is once again being affected by war. What's happening?

The perspective we must adopt must be a European one. We live in a world where force and conflict are the cornerstones of international confrontation, both commercially and militarily. Europe is in trouble, partly because contemporary democracies have become highly vulnerable to "easy" arguments, losing their ability to respond to stereotypes and emotions that are tools of populist consensus. But it's also true that these difficulties are a result of the "global disorder" created by the United States' abandonment of the main rules of the order it established in the postwar period.

What remains of the PNRR?

Contrary to prevailing opinion, I believe that Europe has recently demonstrated a remarkable capacity for resilience, as evidenced by the adoption of the NextGeEU (Italy's National Recovery and Resilience Plan) and the firmness with which it is responding to Ukraine's aggression to protect Europe's values. It should be remembered that the NextGeEU is a set of national development projects offsetting approximately €800 billion in European debt. The PNRR has provided Italy with a significant infusion of resources (€194.4 billion, including €68.9 billion in non-repayable grants and €122.6 billion in long-term loans), essential for recovery after the Covid shock. It's a program for which, in hindsight, it must be noted that our administration didn't have its drawers full of highly profitable projects, partly because it had long since lost the habit of planning and programming.

High energy costs are a brake on business development.

"Our dependence on natural gas, which accounts for 46% of electricity generation in our country, exposes the Italian economy to higher levels and higher price volatility than its European counterparts and creates a competitiveness gap that is unsustainable in the medium to long term."

How to reduce energy dependence?

It's clear that renewables today produce clean energy at a relatively lower cost, but in the transition between now and 2050, natural gas and oil (71% of energy consumption), despite their decreasing share, will continue to play a dominant role. In Sardinia, we must focus on the least polluting options for the landscape, while still requiring compliance with environmental standards. The European Commission's recent move to electrify energy consumption is important. Not only because it represents a move toward lower gas consumption (heat pumps instead of gas, greater use of electricity in industrial processes), but also because it ties in with the technological change driven by digital technology and artificial intelligence, which requires a dramatic increase in the availability of electricity to power data center and quantum computing infrastructure.

How do you see the future of Sardinia?

"We need to create a large data center and artificial intelligence infrastructure, which is currently lacking in Italy, as well as a digital training center where young people leaving Sardinia can find new opportunities at all skill levels. It would be an extraordinary opportunity to connect the country's interests with those of Sardinia, with a forward-looking industrial policy."

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