A document sent to all ministers by Paolo Savona
, today Consob president but then owner of the EU affairs
, warned the government of the risks of the modifications of the Mes
. That document, A politeia for a different Europe
, had greatly frightened the political and financial world of the Union but had hit the point: "The proposal under discussion to create a European fund for interventions, however it is called – put black on white Savona, as you remember today the messenger
– in addition to having insufficient resources, it has the double defect of re-proposing the parameterization of the interventions, instead of evaluating case by case according to a common political vision. It also proposes the defects of the restrictive conditionality
for the fiscal policy of the countries that will resort to it, making the mechanism rigid in its application and with effects deflationary
". Translation: the Mes would have worsened, and not solved the problems of the States forced to use it.
Also read: "Now we understand why". Mes, Conte and those "6 months of darkness" very, very suspicious
The trouble is that today, after the negotiation, the text has remained the assessment of the sustainability of debts and of the capacity of the State that asks for a loan to be able to repay it and is a point that will be difficult to be further negotiated. To the premier Giuseppe Conte and the Minister of Economy Roberto Gualtierithe Roman newspaper explains, it remains the card of the modification of the attachments, to partially correct a pitch destined to do badly to Italy. Why the debt restructuring that would make government bonds waste paper (mainly held by Italian savers) is still standing and indeed a cornerstone of the European Stability Mechanism.
In the video of Agenzia Vista / Alexander Jakhnagiev, Salvini: "Mes, no mandate to sign anything"