Orcel: “The energy will come from Southern Europe, an advantage for Italy”
Unicredit is doing register record numbers: profit touches i 4 billion. Celebrate the ad Andrea Orcel for the results obtained but also says he is optimistic about the new government: “Melons – Orcel explains to the press – it seemed to me clear And coherent. Mario Dragons had one credibility level international but now you have to keep there straight bar. An omen for the new government? Do not deviate from reforms introduced by Draghi and unload the Pnrrkeeping the cohesion of the majority. If you succeed in this, it means that a whole other series of virtuous things have been done. It really isn’t cheap. There will be one recession but it will be less profound than expected. As far as we are concerned, we should be able to hold on even where the braking in Europe implies a 3% drop of the GDP And inflation until the 6.5% “.
“If we go further, – continues Orcel to the Press – which we do not consider probable, we have some lines of defense in terms of capital solidity e provisions such as to be able to cushion the blow better than most European banks. To date, we are convinced that the decline in GDP will be less than 3%. As compared to Germany And France, Italy it is doing better for growth, exports and investments. The PNRR assigns 200 billion to the country. Our public debt has gone from 158% to 151% and it should go below 150%. Household wealth has increased. From a geopolitical point of view up to now we have had an infrastructural energy supply system that goes from North to South, but it will inevitably change. The energy it will come from the South to the north. And who will have to build ports, infrastructure? They will be Italy, Greece and other southern European countries. Sara a great opportunity“.
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