Carlo Cottarelli: Museums Need Grants, Not Loans, to Survive Crisis

During a Triennale Decameron Instagram live on April 19, 2020, economist Carlo Cottarelli argued that cultural institutions require non-repayable subsidies rather than debt-based financing to recover from the pandemic. Interviewed by Triennale artistic director Lorenza Baroncelli, Cottarelli distinguished museums from businesses, stating that while some firms can manage with soft loans repaid over years, museums face a deeper revenue collapse and need outright grants. Cottarelli, a former IMF official and Italian spending review commissioner, emphasized that the cost of supporting culture is higher and demands stronger intervention. The conversation also covered Italy-EU relations and broader economic recovery strategies. Triennale di Milano was the first institution to close its physical museum and pivot to a digital platform before the official lockdown, launching the Decameron program of daily talks with figures from art, culture, literature, sport, and entertainment.