Paolo Savona, President of Consob (National Commission for Companies and the Stock Exchange), in his speech at the annual meeting with the financial markets, took stock of the first signs of economic recovery of the country, the knots still to be resolved and the future challenges to be faced.
Bitcoin soars to $ 40,000 after Elon Musk’s tweet
The Bitcoin hit a two-week high of nearly $ 40,000, prompted by another tweet from Tesla’s number one, Elon Musk.
“When there is confirmation of a reasonable (about 50%) use of clean energy by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions“, wrote Musk on the social network.
The cryptocurrency is so skyrocketed by over 9% after that message, to reach $ 39,838.
After a 2020 that “because of the pandemic it was one of the worst years experienced by Italy on the economic and social level since the end of the Second World War “, Italy has” started towards economic recovery since the end of last year and more clearly in the first months of 2021 “. In general, the country – said Savona – “it shows its will to tackle the unresolved problems, also making use of the change in the tax policy attitude of the European Union, the necessary foundation of cohesion between member countries”.
Both the European Union and Italy have in fact “activated a broad range of economic policy instruments to control the effects of the emergency situation, also by engaging existing structures in new tasks “, concluded Savona. This” should not be surprising because the rational content of human action pushes us to “choose to obtain the best result at the lowest cost”.
“Private companies, especially exporters, are forced by competition to settle their own problems without delay, under penalty of exclusion from the market; this capacity represents a cornerstone of growth and a foundation for the proper functioning of democracy, which has the power to correct the distribution of income determined by productive and commutative activity through regulations, taxes and fees “, added the president of Consob.” When these forms are insufficient and savings are not used by private individuals, the State resorts to debt, but not always following a well-founded assessment of the intergenerational redistributive effects “, concluded Savona.