Istituto per la Ricostruzione Industriale

Istituto per la Ricostruzione Industriale, commonly known by the acronym IRI, was founded in 1933 by the Fascist Italian Government state holding company headquartered in Rome ( Banca Commerciale, Credito Italiano and Banco di Roma), the major Italian banks from bankruptcy to save.

As a result of the First World War, production in the heavy machinery sector had been artificially inflated. Some major companies (eg Ilva 1921 and Ansaldo 1923) were already in financial difficulty. For the granting of state subsidies to the industry a Special Autonomous section of a banking consortium was established in 1922, which was to award public subsidies against participation. Because of the world economic crisis in 1929, the risk of bankruptcy of the great Italian private banks was assessed by the ailing industry as very high. To reduce this risk, 1926 Liquidierungsinstitut was established, which acquired the three banks for the government, which in turn controlled a number of industrial companies. That went out the 1933 IRI.

In this way, the IRI - and hereby the Italian state - owned approximately 20 % of the national share capital and big business (eg with Italsider in the steel, shipbuilding and automobile sector with Alfa Romeo ) in the Italian banking sector.

Initially, the IRI era was regarded as a temporary structure that is limited to the liquidation of the acquired operations, but in 1937 transformed the IRI government into a permanent public company. This decision was confirmed by the subsequent democratic governments expanded the commerce sector of IRI and reorganized from which a state holding company was.

1987 sold the IRI Alfa Romeo to Fiat SpA. Since 1993, the Italian government is pursuing a policy of privatization of about 600 state-owned industrial holdings. Officially, the IRI was dissolved after the model of the German Trust Agency on 28 June 2000 and the remaining investments (eg RAI (television), Fincantieri ( yards ) or Cofiri ( financial services) transferred to the Fintecna, a company owned by the Italian Treasury.

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