The possibility that the EU Commission gives Italy of public intervention in support of banks up to 150 billion changes the game. It is wise, albeit belated. When an economy loses 10% of its GDP and 25% of its industrial turnover, the hypothesis that there are no banking system failures is unrealistic. Weaknesses, especially political ones, have made us play too long with that hypothesis.
It's time to clarify. We need a broad, systemic public intervention. Atlante was only the initial canapé. It is a pity that serious damage has been done to the system of territorial banks in that amusement. Having sustained an economy that was not recovering, they were left in limbo due to the delay in public intervention. And then, with the lie that fewer bankers would have given more credit, the government intervened with a straight leg on popular banks and Bcc.
We need to quickly restore full functionality to our banks and stop discriminating between corporate forms, as if some were the daughters of a lesser God. This serves to create the conditions to rekindle the Italian economy, return to invest, create jobs, provide a future for our young people.
