The Outlook for the Economy and Finance 2025

The Outlook for the Economy and Finance 2025

April 4-5, 2025 36th edition

The Outlook for the Economy and Finance 2025

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The protagonists of the 36th edition

For the press

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 will be held on April 4 and 5, 2025 in Cernobbio.


Following, the main topics that will be 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 will be presented:

  • A comparative analysis of the principal macroeconomic indicators of the leading economies, as re-elaborated by TEHA Group on the basis of forecasts from major international financial institutes; 
  • “Towards a Cashless Italy: a 10-year review and what still needs to be done for citizens, companies, and Merchants” – 2025 Report of the Cashless Society Community, a high-level platform for the dissemination of electronic payment in Italy;
  • Welcoming remarks by Valerio De Molli, Managing Partner & CEO, The European House - Ambrosetti and TEHA Group, about the strategic importance for European and Italian Savings
  • “Implications and Risks of the New U.S. Trade Policy for Made in Italy in the Global Scenario” – produced as part of the initiatives of TEHA Club;
  • “AI 4 FSI Europe: The AI Revolution for the Strategic and Data-Driven Management of European Companies” – produced by TEHA Group in collaboration with Microsoft Italia;
  • “Financial advisory: a key driver for enhancing savings and fostering Italy's economic growth” – produced by TEHA Group in collaboration with con Assoreti;
  • “Investing in the Country's Future: The Strategic Contribution of Private Savings” – produced by TEHA Group in collaboration with CDP Venture Capital SGR; 
  • “Pension funds and Italian SMEs: the virtuous link between growth and pension systems” – produced by TEHA Group in collaboration with Previdenza Italia; 
  • “Observatory on Italy’s Recovery and Resilience Plan – four years after his launch” - produced as part of the initiatives of TEHA Club;
  • TEHA Club Economic Indicator – first 2025 survey on Italy’s economic prospects, employment rate, and companies’ investments.


    • 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.