AMARONE, BRUNELLO, BAROLO, CHIANTI CLASSICO TO BE USED LIKE PARMIGIANO REGGIANO AS A CREDIT GUARANTEE FOR LOANS FROM BANKS. WINENEWS ASKED GIANNI ZONIN WHAT HE THOUGHT: “AN EXCELLENT IDEA AND THE CONSORTIUMS COULD REPRESENT A FURTHER GUARANTEE”

It was recently noted in the press that the Credito Emiliano bank in Italy accepts Parmigiano Reggiano from its clients as a loan guarantee. A practice that has been in act for over 50 years, it is now a lifesaver for many agricultural workers during these tough economic times. And WineNews now asks whether this special financing could help the wine sector as well, which has also been unable to escape the troubles resulting from the global economic crisis. The question was posed to renowned winemaker as well as long-time banker, Gianni Zonin (he is currently president of the family run winemaking group Zonin as well as the head of the Banca Popolare di Vicenza and Cassa di Risparmio di Prato banks).

“Even the Banca Popolare di Vicenza” – explained Zonin – “has offered special credit in the past, it is not a recent invention. It is, rather, an activity that has at least a forty year history. That which is regularly done for the cheese sector could be an excellent idea to transfer to the wine world. Obviously for those wines that would allow for the same guarantees as aged cheeses, I mean, fine wines that, by law, must remain in wine cellars for several years, like Barolo, Amarone della Valpolicella, Brunello di Montalcino, Chianti Classico, to name the most well known”.

“As well” – added Zonin – “the Consortiums could represent further guarantee for credit institutions. There is a case that could be immediately do-able: I’m speaking of “blocage”, conducted by the Chianti Classico Consortium, which could represent that special “deposit” to guarantee credit for winemakers in the Chianti region, whose enterprises are having not just a few difficulties in this period”.

President Zonin also suggested a renewal of the agrarian bill (a sort of short-term financing that banks grant to farm workers in advance to cover the costs for a productive season), which is another method to offer more access to credit, and that, unfortunately, has lost its strength over time. As well, opportunity to offer “harvest loans” that give special loans to buy grapes.