“With the recovery underway, the time has come for the Eurozone to address future stability challenges. This means tidying up the house with regard to public finances, however create buffers for the future, not just wait for growth to gradually reduce debt”: ECB president Mario Draghi said this in Frankfurt, also intervening indirectly on the controversy that has engulfed Italy in particular in recent days, after the words of the commission vice president Katainen.
“Italian politicians don't tell the truth about public finances,” said the Finnish politician. Draghi does not mention that comparison but points out the importance for governments to take measures to put public budgets in order, also in view of the end of Qe: "We have growing confidence that the recovery is robust - highlighted the president of the Central Bank European – but we are not yet at the point where the recovery of inflation is self-sufficient without our accommodative policy”.
"Italian companies have seen their debt ratio (compared to gross added value, ed.) by around 30 percentage points since the end of 2012, returning to the levels of mid-2007", noted Draghi, highlighting a positive and also focusing on Spain, which fell from 215% to almost 150% in the same period. For Draghi, it is a sign that "the recovery did not take place with a return to debt but rather, thanks to monetary policy, with a reduction in leverage, producing a more sustainable phase of expansion".
