Worst time could not have been chosen to do once again lose face to the EU to the yellow-green government, which always forgets that on economic policy issues announcements are worth more than facts in influencing the expectations of national and international economic operators.
And so, on the occasion of the awaited response from the EU Commission to Minister Tria's letter on the measures to adopt to control the dynamics of our public debt, the lexicon of the Government which has already eliminated the grammar, the syntax, the complex declination of verbs, the geometry of angles, is now preparing to distort the meaning of a universally known and appreciated acronym: BOT, Treasury Bill. This, as everyone knows, represents the unit of measurement of a contract that the Treasury enters into with the subscriber of the BOT itself, undertaking to repay the principal on maturity and to pay interest at a fixed or variable rate according to the contract. As is well known, the BOT in paper form no longer exists for some time, having been dematerialized and reduced to accounting entries in the subscribers' portfolios.
These simple contractual clauses and accounting practices are ignored by the President, on behalf of the League, of the Budget Commission of the Chamber Claudio Borghi, former professor under contract at the University and leading exponent of the Italexit movement, despite the terrifying and grotesque example of Brexit. In fact, President Borghi proposes to the Italian Treasury to issue BOTs with such small denominations (the famous minibots) that they can also be used as a means of payment for the smallest exchanges. A second quasi-currency, ready – in President Borghi's dreams – to replace the much-hated euro and the underlying financial and monetary stability.
If President Borghi's resolutions come true Italy would have a quasi-currency with all the characteristics of BOTs: repayments on maturity, issue with competitive auction procedures, payment of interest, absence of paper and cash circulation. And so the financial markets could vote and speculate directly and at any moment on the value of the new Italian quasi-currency against other currencies without having to resort to costly and uncertain assessments of the risk of default of the Italian sovereign debt to which all the mini BOTs issued belong by default. right.
After the proposals of gold to the homeland and the declaration of having abolished a fact (poverty) e the trick of Borghi's quasi-currency BOT, there are still those who accuse the EU of considering the yellow-green government as a guest to be kept away from the necessary talks for the formation of new EU governing bodies.
