In 1981, he received a bachelor's degree with honours in Economics at the Sapienza University of Rome, where he defended a thesis on "Technologies and combinations of factors in developing countries."

As Chief Statistician he designed and implemented a thorough reform of the statistical system of the organization and launched the "Global Project on the Measurement of Progress in Societies", which fostered the setting up of numerous worldwide initiatives on the issue "Beyond GDP".

[9] During these years, Giovannini was also a member of several important international bodies: Chair of the Conference of European Statisticians, a body of the United Nations Economic Commission for Europe (UNECE), Chair of the Board of the World Bank International Comparison Program for the measurement of purchasing power parities worldwide, advisor to the European Commissioner for the Environment and member of the Board of the Canadian Index of Wellbeing and of the UK Measuring National Wellbeing Advisory Forum.

For his work on the measurement of societal well-being, in 2010, he was awarded the Gold Medal of the President of the Republic of Italy by the Pio Manzù International Center and became a member of the Club of Rome.

[15] It was the so-called Grand coalition government, with support from the centre-left Democratic Party (of which Letta was Deputy Secretary), the centre-right People of Freedom, of former Prime Minister Silvio Berlusconi, and the centrist Civic Choice.

[17] On 15 June, the government issues the "Decree of doing," measure aimed at hiring policies for economic recovery, of which Giovannini was among the main proponents.

Minutes after the PD national committee backed the Renzi's proposal by 136 votes to 16, with two abstentions, Palazzo Chigi – the official residence of the prime minister – said Letta would be going to the Quirinale on Friday to tender his resignation to Giorgio Napolitano.

But, without directly proposing himself as the next premier, he said the eurozone's third-largest economy urgently needed "a new phase" and "radical programme" to push through reforms.

Speaking to the party leadership, Renzi had said Italy was "at a crossroads" and faced either holding fresh elections or a new government without a return to the polls.