(Francesco Matera) On July XNUMX it will be Germany's turn to take over the rotating presidency of the European Union and Angela Merkel is already beginning to dictate the line to follow for the economic crisis. He gave a series of interviews to some newspapers where he said: "With Mes and Sure, we have created the tools that can be used by everyone, we have not made them available to remain unused". Then he explains that "the solidarity fund cannot solve all European problems but without the problems they would get worse. Too high unemployment in a country can have an explosive effect, the dangers for democracy would then be truly greater".
To echo the president of the ECB Christine Lagarde that yesterday from the Northern Light Online Summit said: "The worst is behind us, the central banks' response to the crisis will be impressive". La Lagarde then said about the Recovery Program in your opinion, no final agreement will be reached at the European Council on 17 and 18 July.
The uncertainty of the funds of the Recovery Plan and the invitation of Merkel to use the funds of the Mes and Sure have made the Italian Prime Minister nervous, Tale who replied:"Nothing has changed, with respect to Angela Merkel's opinions, but I am the one who accounts with the Minister Roberto Gualtieri, the state accountants and the ministers. We are preparing for an Italian Recovery plan that we will present in September ".
On 17 and 18 July there will be a meeting of the European Council in Brussels, probably extended to Sunday 19 if not even postponed for a month.
In the meantime, the International Monetary Fund forecasts a -10,2% for the GDP of the Eurozone and Lagarde launches its cure: "They will continue to act massively and diligently, call it "whatever it takes" or call it use all available levers. "
In Italy, on the other hand, it is thought to ask for a further variance in the budget, about 20 billion, to continue to guarantee unemployment benefits and give funds to the Regions, about 5 billion euros. Yesterday, the Minister of Education Azzolina received one billion euros for the school, they will be used in part to hire 50 thousand teachers, thus favoring the increase in the Italian debt for the future, given that the billion received is not structural but "one shot".
Italy must aim for a plan B, but also C and not leave the fate of our destiny to others. The Recovery Fund, linked to the EU budget 21-27, will be able to give its effects no earlier than next spring, we are talking about those 172 billion euros that would be granted to Italy in "tranches" according to the objectives achieved by the "famous" Plan which Conte will present in Brussels next September. A very long time to face a social unease which, day by day, is becoming more and more palpable. The main road could be to continue to issue Italian government bonds, thus putting oneself in the hands of Italians. A recent auction in a few days has earned the coffers of the Mef a good 22 billion euros. According to an Istat estimate, the Italians have liquidity in the bank that exceeds 1500 billion euros. Issuing government bonds with even very small denominations with a rate close to 2 per cent by taxing them (recipe of the Consob Savona president) would give fresh resources to the state that come from the Italians and which then will go to the Italians and would not disperse abroad, where speculators often they use them to increasingly tighten the noose around our country's neck.