Visco and Bonomi’s message: politics can do more damage than Covid


If we go to analyze the speeches and therefore the messages that the Governor of Bankitalia, Ignazio Visco, and the new head of industrialists, Carlo Bonomi, have launched to government and politics in general, an impressive similarity comes out. Almost as if the appeal of the entire productive and financial world were one and only one. And it is this, in summary: Covid has changed everything, there is a serious risk that the country will not keep in the coming months, the social bomb is triggered, so now there is no more time to waste, it is time to overturn the old patterns, you need to have a vision of how to bring Italy out of the crisis and above all spend the rain of billions coming from Europe and the markets well. In short, bankers and entrepreneurs who have always played the role of firefighters, here they turn into revolutionaries. Visco speaks today in his final considerations of “breaking away from the most recent historical experience”. Bonomi in his first report as president, a couple of weeks ago, called for a total re-foundation of the rules of our country. Break, refoundation. If the words still make sense, they look like boulders thrown into the swamp.

Unfortunately, however, the first public debate skirmishes on how to ferry the country out of the crisis are far from encouraging. With the 5 stars and Luigi di Maio repeating the mantra “we use the money from the recovery fund to cut taxes”, with the Salvini League which has dusted off the flat tax idea for the occasion. So much so that the Minister for European Affairs, Enzo Amendola, had to remind everyone that no, it cannot be done, that the 172 billion that will arrive next year must be invested in targeted and verifiable projects, other than cutting rates, otherwise bye bye money. But here, too, the level of public discourse for now turns on the long and boring theme of the “reforms”, which for at least 50 years everyone wants but nobody does. And who knows if this government will ever be able to put a little substance under the headlines – which are always the same – simplification, tax reform, unblocking construction sites, public investments, digitization and so on. In other words, the executive is facing an epochal challenge, far greater than him, on which other well-equipped governments have already failed in the past (without the aggravating Covid). So there is no need to be optimistic.

Visco however today in the most beautiful room of Palazzo Koch – in a surreal scenario of only 40 high institutional positions seated, spaced and with masks – he ideally rang a bell. And it sounded loud. Because if we went on like this, by inertia, only two things would be certain: the massive increase in public debt and the corresponding increase in social inequalities. The first is a kind of bomb ready to explode under our public finances, which can drag us towards unwanted Argentine scenarios. The second is a bomb placed there under the social fabric of the country, which if it explodes risks leading us to unimaginable situations, poor against poor, poor against rich, in general Italian against Italian. And the problem is that they are two devices that could also explode simultaneously with devastating consequences. Precisely for this reason, politics must move, have a vision, plan and guide reconstruction. It won’t be all right if you don’t face the crisis with seriousness and competence. The most beautiful and effective part of Visco’s relationship is the one in which he doesn’t rattle off numbers and he doesn’t talk about economics. “Today it is said by many parties:” together we will make it “. We say it too: but as long as it is not said only with rhetorical optimism, but to collectively take on a concrete commitment. We will do it with mature, conscious choices, looking away. We will do it starting from the strengths we sometimes forget; finally facing the weaknesses that sometimes we don’t want to see. Many have lost their lives, many mourn their loved ones, many fear for their work. Nobody should lose hope. ”

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