Learn to read the documents, dear journalists. On the Internet, by now, you can find (almost) everything. And, with the necessary diligence, great scoops will be made. Word of Giacomo Vaciago, academic and editorialist of quality, who takes the opportunity of the Greek crisis to impart a valuable lesson, but anything but pedantic. “Let's start with the comparison – he explains theteacher – from the comparison between the text of the referendum of 5 July and the 7 pages of the agreement of 12 which, alas, few have read”. Here is the interview he granted to FIRSTonline.
Professor Vaciago, what emerges from the comparison between Europe and Greece?
“Tsipras was very good. Beyond the notes of color, such as the jacket slammed on the negotiating table, the seven pages of the agreement mark an epochal leap in quality. For the first time, funds are allocated for research and development. A quarter of the fruits of privatizations will go to new investments. In short, the theme of the sustainability of the recovery of the Greek economy which was absent in the previous programs is tackled in a realistic way. It is a qualitative leap that promotes the premier's leadership skills. Unfortunately the essential element does not emerge from the analyzes of the information media which have not grasped the great difference, the leap in quality that occurred during the week”.
Why this myopia? The text of the agreement received less publicity than Schaueble's objections…
“Schaeuble's theses are not law in Europe. The German Finance Minister certainly supported volatility, perhaps to the advantage of more pessimistic positions on the markets. But they do not represent the line of Europe, as has emerged from the events of recent days which show that there can be no hegemony of a single country, when a shared majority must be achieved. And herein lies the merits of Tsipras”.
Yet the Greek premier appears more a victim of circumstances than a protagonist, judging by the acrobatics between the referendum and the agreement of the Brussels marathon…
“This is because the final text is not read. Tsipras has been able to put the issue of aid at the center of the negotiation, subject as it should be to careful monitoring by the other countries of the European Union. It is not a gesture of distrust, but of sharing goals that are not easy. Among other things, long-term. The seven pages of the Greek plan that I invite you to read set goals for at least ten years".
It looks like a mission to the Greek calends ..
“The document does not mark a conclusion, but an act of opening towards a future road map. Which won't be easy, given the starting points: it's about rebuilding trust in a system that first lost a billion deposits a week, then a day. And I'm sorry to disappoint Grillo and Salvini: it's not money withdrawn from sinister Western banks, but from the Greeks. It is from there that we have to start again”.
Will Tsipras be promoted or not by history?
“I refer to the words of an illustrious jurist, Sabino Cassese: the contemporary world does not promote those who know how to impose their demands on the basis of force, but those who know how to mediate. It is important to know how to recognize the reasons of others with a goal. The winning message is clear: I can get here, now it's your turn to understand that this is the point of common convenience".
And Tsipras succeeded. Or not?
“At least the logic of the debtor's torture which led nowhere is overcome. The season of necessary reforms is beginning in Greece too. A difficult, complex road map that will require a larger parliamentary majority, which is in any case necessary to tackle the reform of the tax system, education, justice and everything that can help a leap in quality. With a common commitment to the partners which should not be considered as an interference. It is a common problem that requires both surveillance and targeted help. The confirmation comes from the pre-emption for Greece, foreseen by the agreement of 12 July, of the investments of the Juncker plan. Not to forget that most of the reforms are widely shared: it is not necessary to refer to a German diktat to understand the need to punish thieves. In Greece, as in Italy ”
Speaking of Italy, what consequences does the anti-Grexit agreement have for us?
“Simple, the risk of contagion is removed. Which is definitely great news."
But why is Italy, with the industrial structure available to the Bel Paese, continually included among the areas at risk?
We can mention the incidence of the debt/GDP ratio even if the numbers, if all factors are taken into account, especially the surplus in demand, demonstrate that the debt is sustainable. But political uncertainty weighs on it. Unlike what happens in France or in the USA, the Italian leadership remains fragile, exposed to the political situation. Reform, in this sense, is necessary and urgent”.
