President Sergio Mattarella said Wednesday that Made in Italy was facing major challenges and it was time to show courage.

Speaking at a ceremony marking the 100th anniversary of the birth of Ariston founder and former public works minister Francescio Merloni, who died last October aged 99, Mattarella said: "These are challenging times, and this also applies to Made in Italy.

"Crises require transformations that require courage: we must look forward, not back.

We need the courage to bet on the future."