In the end, the Minister of Economic Development, Corrado Passera, was also unbalanced: "I believe that the euro can hold up even without Athens is an established fact or at least a very reasonable hypothesis", he said in an interview on Raiuno in the morning, also adding that "the Greece affair was handled very badly, with the responsibility certainly of the Hellenic country, but Europe has not been able to take it in hand in the right way".
"I don't think the stability and sustainability of the euro is in question – continued the owner of Economic Development -. Certainly all the countries that have a high debt despite having a low deficit like Italy have an impact but go ahead calmly, straight ahead with what we are doing”. Rigor and growth “are two phases that must go hand in hand because there can be no growth if a country slides towards bankruptcy. The accounts must necessarily be under control but it is only a prerequisite ”, Passera said again. "All the duty of any country is to create jobs, to make the economy more capable of growing".
The minister then intervened on Moody's downgrading of 26 Italian banks, which sparked a protest from the ABI ("It's an attack on Italy") and prompted Consob to convene the rating agency: " Having lived through the financial market crisis of 2008 and 2009 and now this other one – said Passera -, I think the rating agencies were slow and understaffed in sounding the alarm last time and contributed to the crisis and are overdone today, almost in favor of the crisis, with their excessive reactions in the face of the recession”.
“In both cases, therefore, they can be criticized – concluded the head of the Economy of the Monti government -, even if this does not mean that there is not a very important function and that a plurality is not useful, but proactive attitudes that exacerbate the cycle and make the crisis more of a crisis are wrong".
