A credit line with the MES of a similar amount, enjoying a rate of 0.1%, would have cost Italian taxpayers 111.5 million in interest in the first five years of the loan. Less than a twelfth of what we will have to pay. We are obviously talking about funds for the health emergency, therefore with a ‘restricted’ destination. But also the Btp Italy was launched to address the critical issues caused by Covid. The 1.45 billion difference is, comments Bloomberg, “the price”, passed on to the citizens, “of the political tensions with Europe” on the Mes, which the “populist parties use as a club to paint the Brussels institutions intent on try to undermine national sovereignty. ”
Mes almost ready
At the moment it is not clear whether Italy will want to access the Save-States credit line. The Democratic Party seems in favor of the Mes, which instead remains unpopular with the 5 Stars. Conte has repeatedly stated that this tool is not the solution and that our country does not intend to use it. The European Stability Mechanism, meanwhile, is there, within reach. At least as regards the credit line for the health emergency. “Available for everyone and, in order to provide loans, individual countries need to make a request”, Nicola Giammarioli, general secretary of MES explains to SkyTg24. “Then there will be an investigation that has been speeded up to the maximum and in fact has already been done and within two or three weeks these funds can be made available,” he adds. Unlike the Italian BTPs, this loan has an average life of 10 years and a rate of “around zero”.
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