There are two categories of adversaries that the Government has to face: "Those who want more spending and deficits and the ayatollahs of rigor". The premier said so today Enrico Letta at the Federcasse assembly, specifying that our country “is caught between these two fronts, and it's not easy. We need allies in Italy and in Europe. For some ayatollahs, rigor is never enough, but too rigorous, Europe and our businesses will end up dying".
This evening the Prime Minister will fly to Germany to speak at the "Fuehrungstreffen Wirtschaft 2013", an important meeting of economists organized by the Munich newspaper Sueddeutsche Zeitung. “I will go to Berlin to try to speak to the German public opinion – continued Letta – to explain why Europe must show solidarity. Italy has what it takes for her voice to be heard. There is a need for policies for growth: we can say this because we have our accounts in order”.
According to the Premier, however, we must not let our guard down on the public finance front: "Until Italy has reached at least a 3% interest rate on XNUMX-year bonds (currently just over 4%), we will continue to experience a situation of vulnerability". It is good to remember, however, that 3% yields on ten-year BTPs have never been seen. Based on historical trends, a value close to that identified by the head of government is the historical minimum of 3,35%, which dates back to 30 September 2005.
Then, a mention of the Stability law: "The controversies and criticisms of these days are linked to the fact that everyone would like more money and more spending, but this would mean exceeding the budget: this is why we have implemented the spending review".
Finally, Letta referred to the European Central Bank, which "calmed the crisis and allowed us to have the tools to deal with a still difficult situation, but we cannot ask it to play a role that is not its own, dealing with growth and investment . In the EU there is another body that has not been given sufficient importance, namely the European Investment Bank, which can encourage investments and give guarantees to SMEs”.
