“So far in no country in the world the increase in the current expenditure deficit has led to increased growth.” She said it Ernesto Auci, president of FIRSTonline, in an interview with Radio Radicale, underlining that the Government's choice of increase the deficit to 2,4% "will lead to recession”, because “the reaction of the markets will cause an increase in rates and the banks will have more difficulty obtaining credit".
Consequently, continues Auci, “our businesses, which rely almost exclusively on banks to finance themselves, will have to reduce investment and in many cases they will have it is also difficult to maintain production levels. The result can only be negative for Italians, starting with savers and young people, who will have even more difficulty finding work".
Not to mention that "the increase in the deficit violates the Constitution – underlines the President of FIRSTonline again – article 81 of the Charter says that more deficits can be made only in the presence of very critical situations from an economic and social point of view. And this is not the case in Italy. Mind you, the numbers are not engraved in stone, they can vary, but the problem is that this variation does not take into consideration the problem of the country's competitiveness, which is the fundamental issue".
As for theendorsement to the League by the number one of Confindustria, Vincenzo Boccia, Auci believes it was an error, because the industrial association “has always been and should remain distant from the parties. Boccia would like to remove the League from the 5 Star Movement, but I think it is an unrealistic and wrong policy. This is not how the two parties will separate. Indeed, it seems to me that at the moment the League supports the choices of the 5 Stars a lot. I will say more: it is the League that is most hostile to Europe and many of the Northern League exponents would like to arrive at the extreme consequence of theItaly's exit from the euro and the EU. Which would be for us A real disaster".
Finally, still on the numbers of the maneuver, "I hope there may be some room for rethinking - concludes Auci - but in any case it would be a further mess that would increase the uncertainty of those who have to invest and look to the future".
I was waiting for Auci to speak too. Sold! Sold! Sold! Now I'm following you just to see how much you can lick Renzi's ass and throw mud at the M5S.