Europe can achieve Net Zero by demolishing historic buildings and starting again, Central Bank claims

A top central banker has warned of the economic damage that the rush to ‘Net-Zero’ could cause, and illustrates the point by stating that deleting Europe’s architectural history would be required to achieve severe green expectations.

Among the comments made by Paolo Angelini, deputy governor of the Bank of Italy, about European Net Zero ambitions that, in his opinion, risk inflicting more harm than good, the central banker outlined the level of change that Europeans would need to satisfy those demands.

While saying pushing Europe to net zero risks destabilising the continent’s economy and undermining Europe’s ability to lead on green issues globally, the top economist made his point by revealing he’d asked his team at the Bank of Italy what would be necessary just to make the single institution that he leads compliant.

Angelini revealed the shocking response, remarking in an interview with Politico: “They told me: ‘If you allow us to tear down all our historical buildings and build energy efficient ones, then we can do it’.”

The Bank of Italy wouldn’t be committing itself to net zero any time soon, said Angelini. This was not because he didn’t believe in the cause, but simply because with the technology presently available, he didn’t think it was physically possible.

He said: “For the time being I am refraining from raising my hand and saying at the Bank of Italy we’re going to net zero, because I don’t have the technology, the ability to be certain about the pledge.”

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Reflecting on the central banker’s remarks — which may possibly have been tongue-in-cheek — Politico itself mused: “it’s a potent symbol of the trade-offs that the green transition demands: how much of Europe’s present — and past — is it willing to risk to secure its future?”.

The Bank of Italy itself is headquartered in the Palazzo Koch in Italy, an impressively grand 19th-century palace named for its architect which features a money museum and significant interiors and staterooms.

While survey after study demonstrates that the general public appreciates classic design, the issue is politicised to some extent. U.S. President Donald Trump issued an executive order requiring ancient architectural styles (Roman or Greek revival) for Federal structures, which President Biden reversed.

In the United Kingdom, a hard-left London mayor’s advisor stated traditional architecture is “offensive” because it “harkens back to oppression.”