(b. 24 Mar. 1874, d. 30 Oct. 1961).
President of Italy 1948–55 Born in Carrù, he graduated from Turin University, where he was professor of economics, (1902–48). In 1908 he became editor of the Riforma sociale, and began writing for the newspapers La stampa and Corriere della sera. As an economist, he fell foul of Mussolini's regime for attacking not only Communist, but also Fascist economics. As a result, he was forced to emigrate to Switzerland in 1943. He returned to liberated Italy in 1944 and became president of the national bank, the Banca d'Italia. Through his liberal economic policies in this position and as Budget Minister under De Gasperi he made a substantial contribution to the stabilization of the lire, for which he is best remembered. In 1948 he was the first to be elected to the largely ceremonial post of President of the Republic.
Subjects: Contemporary History (Post 1945).