Rome, Apr 2 (LaPresse) – "Despite the concern we have in seeing spreads rise, we must consider that if we had faced this same shock with worse public finance conditions, such as those we had a few years ago, the impact would have been much more significant." This is what the Governor of the Bank of Italy, Fabio Panetta, said at the Annual Conference of the Bank of Italy and the Ministry of Foreign Affairs, emphasizing that "so far we have been shielded by the market perception that the conditions of Italian public finance have improved." "The ongoing conflict is already causing unprecedented disruptions in global energy supply chains. Its extension to the Gulf countries has forced some of them to suspend hydrocarbon extraction, with immediate and potentially lasting effects on international markets," Panetta added, noting that "even assuming a rapid cessation of hostilities, the return to productive normality would be slow." In fact, "the technical times required to restore extraction capacity would be added to those needed to reactivate the entire energy supply chain. Price increases are significant and are affecting especially refined products essential for industry and agriculture, where the supply bottlenecks are becoming more acute."