ECB, rate hike puts Italy under the magnifying glass
There ECB yesterday took one historic decisiondestined to profoundly change the current structure economic-financial. The decision of Lagardein reality – reads the Corriere della Sera – it is the result of Putin’s moves from the Kremlinin fact, the president of the European central bank found herself in a sort of trapdeveloped by Russian president. The unleashing a war that prevents the cost of gas, Petroleum, fertilizers or grain to go down, indeed it tends to project them upwards, it actually has forced Lagarde to to intervene. The ECB has done nothing but react to the long wave of price increasesproduced or aggravated by war, on goods that Europe buy from the rest of the world. In this the euro area does not resemble the United States, albeit in both areas inflation is running a bit above 8%.
This change of season – continues the Courier – he had to arrive anyway. Maybe with more caution or some more guarantees for the Fragile countriesbut the ECB still had to stop buying government bonds and raise rates today below zero. Staying nailed to yesterday’s world was not possible, nor can it Italy. The numbers of the latest report on sustainability of the EU Commission are clear: on average up to 2032 Italy has the greatest need for gross loans in Europe (over a quarter of GDP per year) and in ten years it may have higher public debt (over 160% of GDP). It means from now on every euro of deficit must undergo a rigorous testing.
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