The Outlook for the Economy and Finance 2025

The Outlook for the Economy and Finance is the workshop held every year in the spring at Villa d’Este in Cernobbio. After the Cernobbio Forum (held in September), this is the most prestigious event organized by TEHA Group and its scope is to examine and explain economic and financial scenarios—the current situation, new trends and prospects for the future, both conjunctural and structural, and potential areas of crisis—in Italy, Europe and the world.

The 36th edition was held on April 4 and 5, 2025 in Cernobbio.

Following, the main topics that were discussed during the Workshop:

Friday, April 4

• The World economy: challenges and prospects 
• Mapping risks for investments 
• Public vs. Private Markets: pros and cons for companies 
• Finance 2025: the rise of AI and digital banking

Saturday, April 5

• Speech by Giancarlo Giorgetti, Minister of Economy and Finance, Italy
• The Agenda for Europe – The challenges for growth and competitiveness for Europe
• The Agenda for Europe – A business perspective
• The Agenda for Europe – Government visions in the European perspective
• The Agenda for Europe – The role of institutions in supporting the European economy
• The Agenda for Italy

As always, during the Workshop, several studies and research papers produced by TEHA Group were presented:

This workshop’s prestige is due both to the importance of the issues examined and the array of speakers and attendees from around the globe that includes experts, Nobel laureates, presidents, CEOs, top managers of major corporations and representatives from leading political, economic and financial institutions, from both Italy and abroad.

The workshop has a strongly interactive nature with ample opportunity for debate and exchange, including outside the scheduled sessions.

Over the years, also hosted at Cernobbio have been: Josef Ackermann, Gary Becker, Fred Bergsten, Olivier Blanchard, Laurence Boone, Ana Patricia Botín, Michael L. Corbat, Howard Davies, Luis de Guindos, Wim Duisenberg, Karen Dynan, Sergio Ermotti, Stanley Fischer, Fan Gang, Paolo Gentiloni, Pinelopi Goldberg, Ian Hatzius, Philipp Hildebrand, Otmar Issing, Mervyn King, Christine Lagarde, Clare Lombardelli, George Mathewson, Robert Mundell, Edmund Phelps, Edward Prescott, Raghuram Rajan, Carmen Reinhart, Robert E. Rubin, Isabel Schnabel, Myron Scholes, Stephen A. Schwarzman, William Sharpe, Vernon Smith, Michael Spence, Joseph Stiglitz, Larry Summers, Michael Treschow, Jean-Claude Trichet, François Villeroy de Galhau, Ignazio Visco, Paul Volcker e James Wolfensohn.