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News Release

Council for the United States and Italy Launches Cooperation Agreement with the Peterson Institute For International Economics

June 6, 2008

Contact:    Adam S. Posen    (202) 328-9000
    Dennis Redmont    +39 06 32 22 546

Venice, Italy—The Council for the United States and Italy today announced the initiation of a program which will support research and public discussion of Italian and transatlantic economic issues in the United States by the internationally known Peterson Institute for International Economics, of Washington DC.

Under the agreement, The Peterson Institute will appoint a succession of visiting fellows to provide an Italian voice and European expertise for the Institute's research agenda and public programming. The agreement will lead to additional events and publications both on the Italian economy and with an Italian perspective on common economic challenges to the US and Italy. The Council and Institute also will work together to include notable Italian policymakers in the Institute's major lecture series held in Washington. Additionally, together with the assistance of the visiting fellow and the Council, the Institute will hold roundtable discussions with Italian officials and experts, and will contribute input to and host some of the Council's meetings. Furthermore, an Italian business representative will be invited to join the Institute's Corporate Advisory Council, as will an Italian policy economist to join the Institute's Academic Advisory Council. The renewable agreement comes into effect from the end of this year, for a period of four years.

The Peterson Institute for International Economics is an independent, non-profit, non-partisan research institute founded in 1981 by C. Fred Bergsten, and its staff includes more than two dozen experts who focus on macroeconomic topics, international finance and exchange rates, trade and related social issues, energy, the environment, global investment, and domestic adjustment measures. Its expertise covers all key regions of the global economy, especially Asia, Europe and Latin America. Previously known as the Institute for International Economics, The Peterson Institute was renamed in its twenty-fifth year in honor of Peter G. Peterson, the founding and current Chairman of the Board of Directors of the Institute.

The Council for the United States and Italy is a binational, private, non-profit organization founded in 1983 in Venice, with the establishment of the Board of Directors by the founding members (Gianni Agnelli and David Rockefeller among them). Since then, the Council's role has been that of promoting US-Italian relations, within the broader context of US-European relations, by furthering mutual understanding and economic interchange between the two countries. The membership is composed of business leaders with a personal and/or corporate interest in the other country, plus a limited number of leaders from academic and other fields. The Italian side of the Council is currently chaired by Marco Tronchetti Provera, Chairman of Pirelli. His American counterpart is David W. Heleniak, Vice Chairman of Morgan Stanley.

Contacts:

Dennis Redmont
Head of Communications, Media and Development
The Council for the United States and Italy
Tel +39 06 32 22 546
Fax +39 06 32 01 867
00196 Rome (Italy)
Piazzale Flaminio, 19
consiusa@tin.it

Adam Posen
Deputy Director
The Peterson Institute for International Economics
1750 Massachusetts Ave,
NW Washington DC 20036 USA
Tel +1 202-328-9000
Fax +1 202-328-5432
aposen@piie.com
www.piie.com