Since October 15, all the budget planning documents of the major European Union countries have arrived in Brussels: only the countries with some internal problems that day are missing: only Hungary, Poland, the Czech Republic and Italy. It was approved by the cabinet yesterday. The delay is certainly not sensible, but there is nothing unusual to justify it. The selection round of a handful of large Italian cities is definitely not. Let’s try to think about what happens when there is such a delay in the days of Giuseppe Conte Premier, and go back with a Polo Gentiloni, a Matteo Renzi, an Enrico Letta or a Silvio Berlusconi.
With Mario Draghi, not a single fly began to fly. Imagine if Ursula von der Lane dared to open her mouth. You will see that he will not stumble even in the coming days, and in that document will read the broad lines of Italy’s economic strategy for 2022: an amount that still fluctuates between 22 and 23 billion euros. Everything was done in deficit, and the European Commission raised complaints and deans. Some taxes, including the Pnrr (sugar and plastic tax) have been postponed until next year, and two important public spending chapters – Social Security and Assistance – have yet to be defined as most of the Italian government has blocked them. ).
In any year behind us, the only doubt is to send a document that will begin to retaliate against the Italian government in Europe, along with the first threatening voices of the markets. There is no substitute. Not even a draft. Here, why you never got a chance in the last few months, you can now understand what a Draghi Premier achievement is: at this moment he is the biggest man in Europe politically, everyone knows it, dare not blink.
All the frauds committed against Italy through the recovery plan and other extraordinary community funds will have some bad luck in Germany or other tough countries that have not yet digested, mainly through loans and gifts. When they understand the impact of the ruling vote, digestion becomes more difficult. Because there can be no more left after the victory of the Left, voices are already being raised about how borrowed or donated funds can be used for so-called “social justice”: the safest and most mathematical way to dispose of them. Without investing in anything that can give value to this country. They know that Draghi will not bite those sirens, and they will believe him as a guarantor capable of extinguishing the mass fire on the right, and not so dear to the left.
The feat of 2022 is in an iron barrel. But in addition to spreading some macro-economic tables and some suggestions, pouring some wine into that barrel, it is impossible to assess its quality. A cut in the $ 8 billion tax wedge remains a strong point, but it is not clear whether the popular form already experienced in 2020 and 2021 will experience Pd, M5s (all in wages for workers). Or if it remains partially upstream, lightening the burden of labor costs on the company balance sheet above all else. There will be other tax cuts (the popular VAT on Tampax has dropped to 10%) and more uncertainty about cost savings.
There are no more taxes that he promised and inspired before becoming Prime Minister Draghi, it is certainly a prudent choice, and it is useful not to slow down the growth of GDP, it can not reduce a super debt. That ‘s it. The spending-cutting chapter is still very confusing, as there are two not-so-trivial political hurdles, such as the M5s of the Conte la Lega, written by Salvini, who once again merged with the government component in citizenship income and pensions. Without those solutions, the plot would be very incomplete. But Draghi seems to be very Androitian in it, not paying attention to the time. Also, he knows he can afford it.
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