{{Short description|Italian economist}} {{Infobox officeholder | name = Carlo Cottarelli | image = Carlo Cottarelli Quirinale (cropped).jpg | order1 = Member of the Senate of the Republic | term_start1 = 13 October 2022 | term_end1 = 31 May 2023 | constituency1 = Lombardy | successor1 = Cristina Tajani | order2 = Director of the Fiscal Affairs Department<br>of the International Monetary Fund | term_start2 = 6 November 2008 | term_end2 = 23 October 2013 | birth_date = {{birth date and age|1954|8|18|df=y}} | birth_place = Cremona, Italy | death_date = | death_place = | party = Independent | spouse = Miria Pigato | children = 2 | alma_mater = University of Siena<br>London School of Economics | occupation = Academic, economist | successor2 = Vítor Gaspar }} '''Carlo Cottarelli''' ({{IPA|it|ˈkarlo kottaˈrɛlli}}; born 18 August 1954) is an Italian economist and former director of the International Monetary Fund.<ref>[https://www.money.it/chi-Carlo-Cottarelli-biografia-economista-partiti Chi è Carlo Cottarelli? Biografia del possibile Presidente del Consiglio]</ref><ref>[https://www.thelocal.it/20180528/carlo-cottarelli-profile-mr-scissors-imf-italy-government-known-as-mr-scissors Who is Carlo Cottarelli, the technocrat who could be Italy's next PM?]</ref>
On 28 May 2018 he was designated Prime Minister of Italy by President Sergio Mattarella, to lead a caretaker government that would bring Italy toward new elections.<ref name=":0" /><ref>[https://news.sky.com/story/ex-imf-official-carlo-cottarelli-asked-to-be-italys-new-prime-minister-11388080 Ex-IMF official Carlo Cottarelli asked to be Italy's new prime minister]</ref> However, after few days, the Five Star Movement and the League reached an agreement and a new government, led by Giuseppe Conte, was formed.<ref>[http://www.repubblica.it/politica/2018/05/31/news/governo_m5s_lega-197794180/?ref=RHPPTP-BH-I0-C12-P1-S1.12-T1 Lega-5Stelle, intesa sui ministri: Tria all'Economia, Savona alle Politiche comunitarie, Moavero agli Esteri. Confermato Conte premier], 31 may 2018</ref>
==Early life and career== Carlo Cottarelli was born in Cremona, Lombardy, in 1954.<ref>[http://www.repubblica.it/economia/2018/05/27/news/cottarelli_mr_spending_chiamato_a_nuova_impresa-197516724/ Chi è Carlo Cottarelli: Mr Spending review chiamato a nuova impresa]</ref> He graduated in Economics and Banking at the University of Siena and received a master's degree in economics at the London School of Economics. From 1981 to 1987, he worked in the Research Department of the Bank of Italy and in Eni from 1987 to 1988.<ref>{{Cite web |url=http://www.ilsole24ore.com/fc?cmd=anteprima&codid=22.0.889004666 |title=Le biografie dei relatori |access-date=2018-05-27 |archive-url=https://web.archive.org/web/20180308231559/http://www.ilsole24ore.com/fc?cmd=anteprima&codid=22.0.889004666 |archive-date=2018-03-08 |url-status=dead }}</ref>
Starting in September 1988 he began working for the International Monetary Fund, in which he was part of several departments: the European Department (of which he was Senior Advisor responsible for supervising the IMF's activities in a dozen countries), the Monetary and Capital Markets Department, the Strategy, Policy, and Review Department (of which he was vice president too) and From November 2008 to 2013 he was appointed Director of the Fiscal Affairs Department of the IMF. He was also responsible for the development and publication of Fiscal Monitor, one of the three semi-annual publications on economic developments in various economic sectors. He later returned to the IMF to serve as executive director for Italy and a group of other countries including Greece.<ref>[http://www.imf.org/external/np/bio/eng/ccot.htm Carlo Cottarelli – Biographical Information]</ref> During this period, Cottarelli wrote several essays on fiscal and policy, fiscal institutions.<ref>{{Cite web |url=http://economia.panorama.it/soldi/carlo-cottarelli-commissario-spending-review |title=Chi è Carlo Cottarelli, commissario alla spending review |access-date=2018-05-28 |archive-date=2014-06-07 |archive-url=https://web.archive.org/web/20140607182457/http://economia.panorama.it/soldi/carlo-cottarelli-commissario-spending-review |url-status=dead }}</ref>
In November 2013 he was appointed by the government of Enrico Letta, Extraordinary Commissioner for the Spending Review.<ref>[http://www.tgcom24.mediaset.it/politica/2013/notizia/cdm-cottarelli-alla-spending-review_2001167.shtml Cdm:Cottarelli alla spending review]</ref> The tasks of the Extraordinary Commissioner regarded the expenses of public administrations, public utilities, as well as of the companies controlled directly or indirectly by public administrations that do not issue financial instruments listed on regulated markets.<ref>[http://www.repubblica.it/economia/affari-e-finanza/2013/10/07/news/il_commissario_cottarelli_che_sale_dal_fondo_la_mia_spending_review_senza_tagli_lineari-68059660/ l Commissario Cottarelli che sale dal Fondo “La mia spending review senza tagli lineari”]</ref> This office gave him the nickname "Mr. Spending Review", with which he became quite known in Italy.<ref>[https://tg24.sky.it/politica/2018/05/27/carlo-cottarelli-chi-e.html Chi è Carlo Cottarelli, mister spending review convocato dal Colle]</ref><ref>[https://www.avvenire.it/primo-piano/pagine/cottarelli-chi-e Chi è Carlo Cottarelli]</ref> He was also known by the press as "Mr. Scissors," due to his frequent habit of cutting public spending, while serving as an official in the IMF.<ref>[https://www.politico.eu/article/italian-president-asks-mr-scissors-technocrat-to-form-government/ Italian president asks ‘Mr. Scissors’ technocrat to form government]</ref><ref>[https://www.vice.com/en/article/italy-government-elections-carlo-cottarelli-imf/ Italy will be led by “Mr. Scissor”. Here there’s everything you need to know]</ref><ref>[https://qz.com/1290654/carlo-cottarelli-who-is-italys-interim-prime-minister/ Italy’s interim prime minister is a former IMF official nicknamed “Mr. Scissors”]</ref>
On 1 November 2014, he was appointed, by the cabinet of Matteo Renzi, executive director of the International Monetary Fund Board. For this reason, on October 30, 2014, he left the commission of expenditure's review.<ref>[https://www.bbc.com/news/world-europe-44280046 Carlo Cottarelli: Italy president names stop-gap PM]</ref> In an interview released shortly before the term of the office, he spoke of the faced difficulties relating to the political and the bureaucratic system.<ref>[http://www.corriere.it/economia/14_ottobre_17/non-mi-davano-neanche-documenti-resistenze-burocrati-roma-33ec9fe2-55b8-11e4-8d72-a992ad018e37.shtml «Non mi davano neanche i documenti Le resistenze dei burocrati a Roma»]</ref>
From 30 October 2017 he is the Director of the Observatory on the Italian Public Accounts (CPI) of the Catholic University of Milan.<ref>[http://osservatoriocpi.unicatt.it Osservarorio dei Conti Pubblici Italiani]</ref>
==Political career== ===2018 government formation=== [[File:Sergio Mattarella Carlo Cottarelli.jpg|220px|thumb|right|Cottarelli with President Sergio Mattarella at the Quirinal Palace.]] The March 2018 election resulted in a hung parliament, with no coalitions able to form a majority of seats in both the Chamber of Deputies and the Senate of the Republic. The election was seen as a backlash against the establishment with the Five Star Movement and the League becoming respectively the first and third largest parties in the Parliament.<ref>{{Cite news|url=https://www.bbc.co.uk/news/world-europe-43272700|title=Populists vie for power after Italy vote|date=5 March 2018|work=BBC News|accessdate=25 April 2018}}</ref><ref name="ilsecoloxix.it">{{cite web|url=http://www.ilsecoloxix.it/p/italia/2018/03/16/AC9tfZ8B-governo_ambasciatori_impasse.shtml|title=La possibile alleanza - Governo, verso l'intesa M5S-Lega: ambasciatori a lavoro, ma sulla Camera è impasse|date=16 March 2018|publisher=|access-date=28 May 2018|archive-date=26 February 2019|archive-url=https://web.archive.org/web/20190226060942/http://www.ilsecoloxix.it/p/italia/2018/03/16/AC9tfZ8B-governo_ambasciatori_impasse.shtml|url-status=dead}}</ref>
After weeks of political deadlock, Mattarella gave the private law professor Giuseppe Conte the task of forming a new cabinet at the head of a populist coalition formed by the Five Star Movement and the League, who had reached a substantial agreement on a government agenda.<ref>{{cite news|url=http://formiche.net/2018/02/giuseppe-conte-scelto-luigi-maio-la-squadra-governo/|title=Chi è Giuseppe Conte, scelto da Luigi Di Maio per la possibile squadra di governo|website=formiche.net|date=28 February 2018|language=Italian|access-date=28 May 2018|archive-url=https://web.archive.org/web/20180612141200/http://formiche.net/2018/02/giuseppe-conte-scelto-luigi-maio-la-squadra-governo/|archive-date=12 June 2018|url-status=dead}}</ref><ref>{{cite news|url=https://www.bbc.co.uk/news/world-europe-44197351|work=BBC News|title=Italy populist government pact: Candidate for prime minister named|date=21 May 2018|accessdate=24 May 2018}}</ref><ref>{{cite news|url=https://www.theguardian.com/world/2018/may/21/italy-populist-coalition-set-to-name-political-novice-as-pm-nominee|title=Italian president in talks as populist parties put forward novice for PM|newspaper=The Guardian}}</ref> However, on 27 May 2018, Conte renounced the office due to contrasts between the League's leader Matteo Salvini and President Sergio Mattarella. Salvini proposed the university professor Paolo Savona as Minister of Economy and Finances, but Mattarella strongly opposed him, as the media considered Savona too Eurosceptic and anti-German.<ref>[http://www.repubblica.it/politica/2018/05/27/news/governo_conte_mattarella_savona-197450521/ Governo, Conte rimette l'incarico. M5S: "Il Colle ha posto veto su Savona". Il leader leghista: "Torniamo al voto"]</ref> In his speech after Conte's resignation, Mattarella declared that the two parties wanted to bring Italy out of the Eurozone, and as the guarantor of Italian Constitution and country's interest and stability he could not allow this.<ref>[https://www.huffingtonpost.it/2018/05/27/lora-piu-buia-di-mattarella-la-scelta-obbligata-di-difendere-linteresse-nazionale-dopo-il-no-dei-partiti-alla-soluzione-giorgetti-per-leconomia_a_23444708/ L'ora più buia di Mattarella: la scelta obbligata di difendere l'interesse nazionale dopo il no dei partiti alla soluzione Giorgetti per l'Economia]</ref><ref>[http://www.repubblica.it/politica/2018/05/27/news/governo_dopo_le_minacce_di_impeachment_sui_social_parte_la_solidarieta_a_mattarella-197516727/ Governo, telefonate di solidarietà al Colle e sui social #iostoconMattarella]</ref> On the following day, Mattarella gave Cottarelli the task of forming a new government.<ref name=":0">{{Cite news|url=http://www.repubblica.it/politica/2018/05/28/news/salvini_radio_capital_centrodestra-197543015/?ref=RHPPTP-BL-I0-C12-P1-S1.12-T1|title=Cottarelli accetta l'incarico: "Senza fiducia il Paese al voto dopo agosto"|date=2018-05-28|work=Repubblica.it|access-date=2018-05-28|language=it}}</ref>
In the statement released after the designation, Cottarelli specified that in case of confidence by the Parliament, he would contribute to the approval of the budget law for 2019, then the Parliament would be dissolved and a new general election would be called for the beginning of 2019. In the absence of confidence, the government would deal only with the so-called current affairs and lead the country toward new elections after August 2018. Cottarelli also guaranteed the neutrality of the government and the commitment not to run for the next election.<ref>[https://www.corriere.it/politica/18_maggio_28/cottarelli-accetta-formare-governo-la-fiducia-voto-2019-senza-agosto-5a649d4e-6263-11e8-bb5f-63b58f0e7bef_preview.shtml?reason=unauthenticated&cat=1&cid=KOadB0SR&pids=FR&origin=http%3A%2F%2Fwww.corriere.it%2Fpolitica%2F18_maggio_28%2Fcottarelli-accetta-formare-governo-la-fiducia-voto-2019-senza-agosto-5a649d4e-6263-11e8-bb5f-63b58f0e7bef.shtml Cottarelli accetta di formare il governo: con la fiducia al voto nel 2019, senza dopo agosto]</ref> He ensured a prudent management of Italian national debt and the defense of national interests through a constructive dialogue with the European Union.<ref>[http://www.ansa.it/sito/notizie/politica/2018/05/28/mattarella-contro-lintolleranza-fedelta-a-democrazia-_41bb3f5f-bf73-4c20-9c18-189e789d57f6.html Governo, Mattarella dà l'incarico. Cottarelli: 'Senza fiducia elezioni dopo agosto']</ref> On 28 May 2018, the Democratic Party (PD) announced that it would abstain from voting the confidence to Cottarelli, while the Five Star Movement and the center-right parties Forza Italia (FI), Brothers of Italy (FdI) and the League announced their vote against.<ref>{{Cite news|url=http://www.repubblica.it/politica/2018/05/28/news/salvini_se_berlusconi_lo_vota_addio_alleanza_-197549039/?ref=RHPPTP-BH-I0-C12-P2-S1.12-T2|title=Berlusconi: "No alla fiducia e centrodestra unito al voto". Ma Salvini: "Alleanza con Fi? Ci penserò"|date=2018-05-28|work=Repubblica.it|access-date=2018-05-29|language=it}}</ref><ref>{{Cite news|url=http://www.repubblica.it/politica/2018/05/28/news/franceschini_pd_renzi_martina-197570543/?ref=RHPPTP-BH-I0-C12-P2-S1.12-T1|title=Pd, Martina: "Fiducia a Cottarelli". Renzi: "Salviamo il Paese". E i dem: manifestazione nazionale a Roma il 1° giugno|date=2018-05-28|work=Repubblica.it|access-date=2018-05-29|language=it}}</ref>
Cottarelli was expected to submit his list of ministers for approval to President Mattarella on 29 May. However, on 29 May and 30 May he held only informal consultations with the President. According to the Italian media, he was facing difficulties due to the unwillingness of several potential candidates to serve as ministers in his cabinet and may even renounce.<ref name=":1">{{Cite news|url=https://roma.corriere.it/notizie/politica/18_maggio_30/governo-cottarelli-quirinale-mattarella-61982f12-63d6-11e8-9b4c-0d37dd8c9cfa.shtml|title=Incontro informale in corso tra Cottarelli e MattarellaI tre scenari possibili|last=Online|first=Redazione|work=Corriere della Sera|access-date=2018-05-30|language=it-IT}}</ref><ref name=":2">{{Cite news|url=http://www.repubblica.it/politica/2018/05/30/news/trattativa_m5s_lega_cottarelli_colle-197707709/?ref=RHPPTP-BH-I0-C12-P2-S1.12-T1|title=Governo, Cottarelli vede Mattarella. Ora al lavoro alla Camera. Riparte la trattativa giallo-verde|date=2018-05-30|work=Repubblica.it|access-date=2018-05-30|language=it}}</ref> Meanwhile, Matteo Salvini and Luigi Di Maio announced their willingness to restart the negotiations to form a political government, and Giorgia Meloni, leader of FdI, gave her support to the initiative.<ref name=":1" /><ref name=":2" /><ref>{{Cite news|url=http://www.repubblica.it/politica/2018/05/29/news/di_maio_spero_voto_prima_possibile_ma_pronti_a_collaborare_con_mattarella_-197682177/?ref=RHPPTP-BH-I0-C12-P2-S1.12-T1|title=Di Maio: "Impeachment non più sul tavolo". E si riapre l'ipotesi di un governo Lega-M5s|date=2018-05-29|work=Repubblica.it|access-date=2018-05-30|language=it}}</ref> On 31 May, when M5S and the League declared of having reached an agreement regarding a new cabinet, Cottarelli resigned from his position.<ref>[https://video.repubblica.it/dossier/governo-lega-m5s/governo-cottarelli-rimette-il-mandato-tra-gli-applausi-della-sala-stampa/306464/307094 Governo, Cottarelli rimette il mandato tra gli applausi della sala stampa]</ref>
===Member of the Senate=== In 2022, Cottarelli was candidate of the centre-left coalition to the Senate of the Republic, being elected in the multi-member district of Lombardy for the Democratic Party (PD). However, in May 2023, he resigned from his post due to contrasts with the new leader of the party, Elly Schlein.
== Other activities == * Istituto Affari Internazionali (IAI), Member of the Board<ref>[https://www.iai.it/en/iai/boards Board] Istituto Affari Internazionali (IAI).</ref> * Italy-USA Foundation, Member of the Board<ref>{{Cite web|url=https://www.italiausa.org/staff/?lang=en|title=Staff – Fondazione Italia USA}}</ref>
==Personal life== Cottarelli married Miria Pigato, an economist and manager of the World Bank Group. Pigato is an expert in the economy of the Sub-Saharan Africa. They have two children.<ref>[https://www.ilmessaggero.it/primopiano/politica/cottarelli_miria_moglie_economista-3760663.html Cottarelli, Miria, la moglie economista che non ama i salotti]</ref>
== Authored books == *{{cite book|title=La lista della spesa. La verità sulla spesa pubblica italiana e su come si può tagliare.|year=2015|publisher=Feltrinelli|location=Rome|isbn=978-88-07-17291-5}} *{{cite book|title=Il macigno. Perché il debito pubblico ci schiaccia e come si fa a liberarsene.|year=2016|publisher=Feltrinelli|location=Rome|isbn=978-88-07-17302-8}} *{{cite book|title=I sette peccati capitali dell'economia italiana|year=2016|publisher=Feltrinelli|location=Rome|isbn=978-88-07-17332-5}} *{{cite book|title=Pachidermi e pappagalli. Tutte le bufale sull'economia a cui continuiamo a credere|year=2019|publisher=Feltrinelli|location=Rome|isbn=978-88-07-17367-7}}
==References== {{Reflist}}
==External links== * {{Commons category-inline}}
{{Authority control}}
{{DEFAULTSORT:Cottarelli, Carlo}} Category:1954 births Category:Living people Category:Italian economists Category:Writers from Cremona Category:University of Siena alumni Category:Senators of Legislature XIX of Italy Category:Academic staff of Bocconi University