The government attacks the Bank of Italy after criticism of the maneuver. Fazzolari: “It expresses the vision of the banks”
The Bank of Italy’s criticisms of the budget law “do not surprise” the Meloni government. “It is owned by private banks, it is an institution that has a vision, legitimately, and this vision makes it consider it more appropriate that there is no longer any de facto use of cash”, the tough stance of the undersecretary to the Prime Minister Giovanbattista Fazzolari, after the opinion expressed by the Italian central bank on some proposals regarding tax truce, flat tax and cash.
Words, those of Fazzolari, who opened a case, despite the senator of the Brothers of Italy later specifying that he “does not question the autonomy” of the Bank of Italy, which by statute defines itself as an institution governed by public law.
According to the undersecretary in charge of implementing the government programme, via Nazionale would have a different orientation from the European Central Bank, and deems it “more appropriate for citizens to make use of a private currency in the banking circuit”. “However, this is not the ECB’s vision. It’s not that one is bad and one is good. We have two radically different opinions. The ECB reiterates that the banknote is the only legal tender and that member states cannot limit the use of the only legal tender in favor of a private currency,” Fazzolari said, after comments made by a executive of the Bank of Italy during the hearing before the Joint Budget Committees of the House and the Senate. According to Fabrizio Balassone, head of the Economic Structure Service of the Department of Economics and Statistics, the measures on cash and fiscal truce “risk coming into conflict with the push towards modernization of the country that animates the Pnrr”, while the flat tax would risk increasing “discrepancies” between self-employed workers and employees, penalizing the latter.
Fazzolari’s statements were condemned by the opposition, which defended the obligation to use the POS and the current ceiling on the use of cash. “We look forward to his tirade against the demo-pluto-Jewish-Masonic finance conspiracy,” said Pd senator Antonio Misiani, head of the Democratic Party’s economy, while Article 1 deputy (in the Pd group), Federico Fornaro , invited Giorgia Meloni to deny her undersecretary, “the protagonist of a coarse and indefensible attack on the seriousness and independence of the Bank of Italy”. A request sent back to the sender by Fratelli d’Italia, through the same president of the Finance Committee in the Chamber, Marco Osnato. “The honorable Fornaro will recall that in this House in the last legislature there was a bill with Meloni’s first signature for the attribution of Bank of Italy to public entities. Therefore, I do not think that Meloni has a different opinion from that of Fazzolari ”, said the deputy. The Deputy Prime Minister and Foreign Minister Antonio Tajani also intervened on the statements of the Bank of Italy, reducing them to “an opinion like any other”. It is “a hypothesis of a manager of the Bank of Italy, made in a hearing in parliament”, said Tajani, saying he was “absolutely convinced” that “tax evasion cannot be fought by reducing a thousand euros or eliminating the use of cash because it would damage our economy, for example by blocking purchases from many foreigners who are used to using cash”.
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