In view of the arrival of large European funds for important investments on Italian soil, the Italian government, with a view to a new efficiency and government transparency, also considering all the ministries involved, demands equal efficiency transparency reliability from the market and from Italian companies, ready to carry out the projects directed by the Prime Minister Mario Draghi.
The risk of financing and contracting or subcontracting work to a company already in a bankruptcy situation can be high, for this reason the Government with the Minister of Economic Development Giorgetti is studying how to avoid serious headaches for Draghi.
It is thought of obliging companies interested in future Pnrr contracts to provide due certification of a healthy and robust constitution, in short, of full health and without serious risk of failure. It is hypothesized the strengthening of the instrument of the Legislative Decree 231/01 which introduced a liability regime for companies that protects them from the risk of incurring well over 170 individual crimes envisaged by the Legislative Decree and anticipating the obligation of the Code of business crisis and insolvency “(Legislative Decree 12 January 2019, no. . 14), which allows an early diagnosis of the state of difficulty of companies. In addition, company merit report cards with specific ratings for each sector are being studied.
As for the human race prevention is better than cure even for companies with appropriate and periodic blood tests, perhaps from a serious and preventive analysis of management and company accounts, it is possible to glimpse health and solidity indicators that can constantly certify the healthy and robust constitution to address the competitiveness of Pnrr projects indicated by the Government.
Draghi has always maintained that the government must protect all workers, but it would be a mistake to protect all economic activities equally in a generalized way. Policy makers will have to choose how to place huge resources and which companies to favor and, among these, “zombie businesses” should not be facilitated.
They are so defined companies no longer able to cover the costs to service the debt with current profits and which, therefore, depend on creditors (private or public, starting with the tax authorities) and by the broad terms of payment that they can grant. The term “zombie firms” was coined to refer to firms backed by Japanese banks during the so-called “Lost Decade,” the period following the collapse of the 2001 price bubble.