“It almost seems like you want to bend our arm so we don't use this money. My country has its own dignity, there is a limit that must not be exceeded ”. So yesterday Giuseppe Conte addressing the Dutch Mark Rutte, during the third day of the Brussels round on the resources to be dined at the Recovery Fund.
(by Massimiliano D'Elia) The attitude of Holland is specious, every day it proposes to reduce the amount allocated to non-repayable subsidies. From the initial 500 to the 400, then to 350. A continuous humiliation for our country that if it wanted could recover on its own given the envied dowry possessed within its borders consisting of about 1500 billion cash money in the banks (the savings of Italians) and an “indefinite” sum that far exceeds one trillion made up of the gold resources held, in part, within the Bank of Italy.
Giuseppe Conte is tempted to tear and blow up the negotiating table but has decided to stay there because, counting in hand, he could manage to bring home about 70 billion euros in subsidies, even in the face of the latest proposed cuts, with another 110- 120 loans. The problem is the conditionalities and governance of this mountain of money. It is hoped that no external action will be taken on Italian economic policy, if this were the case it would be “cursed” money that could definitively cut the wings of our country's growth by increasingly indebting the next generations. Imposing structural reforms with blackmail would clearly damage national sovereignty.
Yesterday there was a very hard fight between Conte and his Dutch counterpart: "You are under the illusion that this game does not concern you. If we let the single market be destroyed, this will happen: you will be a hero at home for a few days, but in a few weeks you will have to respond to all Europeans for compromising an effective reaction ”. Then Conte warns Rutte about the slow response to the emergency: “These resources are the bare minimum. If we are late, double will be needed ”.
The Brussels negotiation was followed by the Quirinale as well as a World Cup final. But to convey the idea of gravity are the text messages sent by the premier at the top of the Democratic Party and M5S where he says that frugal countries are determined to corner Italy. Therefore, the sms detect, we must also be ready to blow up the table. The idea of Prime Minister Conte dictated by Italian pride is commendable but certainly not fruitful from a strategic point of view since, as the Republic writes, Merkel has already made it clear to the Apulian lawyer that, in this circumstance, she would postpone the summit to a later date. A further delay that we cannot afford, a delay that would shake the markets to hit us with unsuccessful hikes in the "spread".
On the domestic political front, however, there is a compact majority and the full support of Forza Italia. A convergence that could push Giuseppe Conte to decide in a hurry also for the Mes to bring in the state coffers, immediately, 37 billion for Healthcare.
But why so much reluctance towards Italy? The distrust shown towards Italy is given by the numbers of our public accounts but also by our own politics, seen from the outside as controversial, inconclusive and ready to change shirts by allying with enemies who become friends and vice versa.
It should also be noted that Italy is the third largest economy in the EU with a country, ours, which is not structured in a homogeneous way, the North - South difference is still very marked. Making Italy homogeneous at the production level, most likely frightens France and Germany because they would lose important market shares and the community economic leadership.
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