Lega and Cinque Stelle renounce to initiate Italy's exit from the euro, partially resize the request to the ECB to cancel the public debt but allow themselves to be seduced by the sirens of the No-Tav and No-Vax. These are the main novelties of the latest and perhaps definitive version of the government program that Matteo Salvini and Luigi Di Maio will deliver in the next few hours to the President of the Republic, Sergio Mattarella, if they manage to solve the puzzle of the candidate for prime minister, which still remains indefinite.
We will see today how the financial markets will respond, which yesterday caused the spread to soar, sent the yield on BTPs skyrocketing under a rain of sales of Italian government bonds and caused bank shares and the stock market to sink after the diffusion of the first draft of the programme. which contained two real bombshells such as the proposal to initiate the (however impossible) exit from the euro and that, no less extravagant and insidious for Italy's credibility, to ask the ECB not to count and therefore cancel the Italian State which will remain in its portfolio at the end of the Quantitative Easing, equal to 250 thousand euros, i.e. at least 10% of the public debt. The latest version of the program proposes that the ECB cancel the government bonds it has purchased not only for Italy but for all countries.
Despite the diplomatic efforts of Di Maio, who is however undermined by the revived Beppe Grillo who returns to ask for a referendum on the euro, the intonation of the Lega-M5S program remains anti-EU, especially where the revision of all European Treaties is called for and Russia becomes a "Strategic Partner".
The document in 39 folders envisages a strong increase in public expenditure for the start of the citizen's income, the overcoming of the Fornero law on pensions with the introduction of the 100 quota and the cut of the so-called golden pensions (over 5 euros net per month) and the launch of the no less serious Flat tax. But a no less serious point is the one that raises the halt to the completion of the Tav and also the halt to the obligation of vaccines which causes Italy to take a sensational step backwards in terms of defending children's health and the most elementary rules of civilization.
In addition to the response from the markets, the response from the President of the Republic is now awaited as soon as Salvini and Di Maio are able to indicate a prime minister candidate, which they discussed once again last night but without yet reaching a certain conclusion .
In short, it is not yet certain that the yellow-green government will really be born, but if it does, it will certainly not be under the best auspices.
