FOOD FOR THOUGHT FROM THE CFO AMBASSADORS
UniCredit’s CFO Ambassadors share some recommended reading and insightful viewing on key global finance topics
UniCredit’s CFO Ambassadors includes colleagues working in the Group CFO perimeter. The group fosters a sense of community and enables brainstorming on practical solutions for their day-to-day activities, whilst developing new ways of working.
Activities include monthly newsletters, learning together sessions, upward feedback initiatives and networking moments such as “Connection Coffees” with the Co-CFOs. Below they share some recommended reading and viewing to give you an insight into some of the latest finance topics.
1. How Cash is Becoming a Thing of the Past (English)
Are banknotes and coins soon destined to become museum pieces? This documentary, produced by German public broadcaster DW, analyses the phenomenon of the transition from physical money to payment systems by credit card, debit card or through new payment services.
From the experience of Bank Van in a small town in rural Germany, to the market stalls in Sweden and the United States where restaurants and shops with the “No Cash” sign are a reality.
Drawing on opinions of experts on the definitive abolition of money as a physical object, we will discover how the simple gesture of using physical money or credit cards has far more complex implications for individuals, banking groups and states.
2. Bitcoin: Beyond the Bubble (English)
We have particularly appreciated the support offered through technology during this pandemic crisis. The Internet and modern devices widely accessible to large sections of the population have allowed us to work from home and reduce the distance with friends and colleagues.
We selected this documentary because it talks about the importance of technology too, describing the phenomenon of bitcoin by addressing aspects, such as: the nature of a payments, investments and blockchain instruments.
The documentary offers an analytical perspective enriched by the contributions of various experts who also underline how the use of this technology could have implications for world forms of government. Watch it if you’d like to investigate a phenomenon that enjoyed strong prominence in the media for several months at the end of 2017.
3. Gig Economy (English)
This PwC article explains that more than a third (36%) of US workers take part in the gig economy, a term referring to hourly contractors such as Uber drivers, Instacart shoppers and Care.com workers who pick up work assignments through apps we all use daily.
Discover how gig workers are facing a complex situation given that on-line food and grocery delivery orders significantly increased in early March.
4. The Gold of the Bank of Italy (Italian)
This 2019 Giovanni Floris video report tells us about the gold reserves in the vaults of the Koch Palace, headquarters of Bankitalia, the fourth largest holder of the precious metal in the world, after the US Federal Reserve, the German Bundesbank and the International Monetary Fund.
Former General Manager Dr. Salvatore Rossi, who takes us on this visit, explains that the substantial value of our gold reserves largely reconstituted in the 1960s by Guido Carli, is still a small fraction of the enormous Italian public debt. Its sale would not have great positive effects on public finances and would instead be perceived as a sign of despair, with disastrous effects on investor confidence.
The huge gold reserve of the country is therefore the “last bulwark”, a heritage to absolutely be preserved!
5. Credit Forborne (Italian language)
This in-depth analysis refers to Forborne credits – credits subject to concessions (in English forbearance) by the bank. These concessions constitute modifications to the original contractual conditions of the credit line that the bank grants to the client company.
With the support of tables, the article illustrates the forbearance guidelines of the European Banking Authority.