EU, Gentiloni: “Without unity, Recovery will fail. All of Europe is watching us”
Paolo Gentiloni does not mince words to send a clear message to Italy in view of the post-pandemic economic recovery. The EU economic commissioner warns about the next crucial steps to obtain the money Recovery Fund. “Much depends on us Italians – Gentiloni explained to Repubblica – everyone is watching us. We have the highest debt. The entire ruling class must be aware of this. Italy alone will receive a third of all subsidies and loans. It is a consensual but binding pact, linked to hundreds of goals and deadlines, and disbursements this year will be 13 percent of the total.
“In 2022, on the other hand, Italy will receive 50 billion. Almost a quarter of the entire amount of funding. But, in fact, money is not an unexpected fortune. It is linked to the achievement of the objectives and deadlines of this binding agreement. there will be – continues Gentiloni a Repubblica – fixed and equal maturities for all. The placement of the bonds is also gradual. Maybe there will be more in 2022 and 2023. So there will be a continuous examination. Until 2026. Much depends on us Italians. We have the highest debt and we use Recovery loans. So we need strong and lasting growth, and prudence in current spending. Everyone is watching us. “