Who knows what do the grillini and their garrulous ministers have in mind when they mention the possible nationalization of the former Ilva. From reading the newspapers it seems that they have a toy in their hands to quickly change a few pieces instead of the colossal iron and steel plant in Taranto. The very short-term political exploitation of a problem to be handled with serious and responsible caution is evident, the solution of which will instead require a long period of time, well beyond even the duration of this government, regardless of the time required for dialogue with the European Union for aspects relating to state aid and competition law.
For those who still have some historical memory, thoughts immediately turn to the nationalization of electricity implemented in 1962. It may be that even among the grillini Does anyone remember that two alternative hypotheses were presented at the time: the nationalization of the electricity companies as joint-stock companies listed on the Stock Exchange, and whose assets included the plants, or only the nationalization of the plants with relative compensation to the companies that own them. The path of nationalization of the electrical plants was chosen in order to prevent the cross-shareholdings held by the large Italian families, which were in the "belly" of the electric companies, from ending up in the assets of the State which at that point would have the right to govern these shareholdings and large part of Italian industry.
According to the declarations of the grillino minister Patuanelli, deputy to deal with the dossier, the former Ilva in Taranto is a production unit of ArcelorMittal Italia spa. Therefore, it has no status as a joint-stock company that can be nationalized with the purchase of its shares. Anyone wishing to pursue this path should agree with Mittal for the spin-off of the production unit and its transfer into a special special vehicle to be nationalised, after prior assessment of the value of the spun-off production unit. Alternatively, first the establishment of a joint stock company with the corporate purpose of managing iron and steel plants, then the transfer to the same of the nationalized plants after an estimate and payment of compensation and the establishment of a board of directors suitable for the purpose. Just as he recounts the case of the nationalization of electrical systems and the establishment of Enel.
All of this takes a great deal of time, in contrast to the grillino message of "soon and well", unfortunately seconded by other garrulous politicians. But in the meantime who takes responsibility for managing the colossal steel plant which, even in the worst case scenario, cannot be turned off with the simple use of a switch? If we recall that some time ago the judiciary considered the steel laminations deposited in the yards to be a part of the crime, preventing their sale, perhaps some measure exempting some responsibility of those who have to manage the plants should be suggested. Even if Grillino's justicialism and his forest-pastoral conception of the economy might be displeased.
In summary, the nationalization proposal outlines a path of pure political-institutional madness that still dwells in the minds of many poll-addicted politicians as if by a drug.
Here they are the Bocconi experts… while the French nationalize edf to become power, we reason like provincial Baùcha, ready to sell off even our underwear to the first bidder, just to obey the diktats… French and European!