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“The MONTH is not a panacea how is it represented “. This was stated by Prime Minister Giuseppe Conte after the press conference with which he presented the new Decree of the Prime Minister on October 18. Conte talks back to the European Stability Mechanism providing some clarification.
In fact, the prime minister specifies that the ESM money they are loans and as such they cannot be used to cover additional expenses, but “You can cover expenses already made in exchange for interest savings”. Conte specifies that this money is used to increase public debt. Therefore, by taking the money from the ESM, the government will have to intervene with some new taxes or with gods spending cuts how “We have to keep the deficit under control”.
ESM is not a panacea
Therefore, according to Conte, the MES cannot be used as a tool capable of curing all diseases, as it is actually a loan. The premier in fact specifies that:
“Regarding spending and investments in the health sector, we have allocated around 4,000 million euros in the budget bill for next year and is the money from the Recovery Fund, where we will certainly invest between 9 and 10 billion, but the MONTH is not the panacea as it is represented “
Conte also clarifies that “Despite the critical situation and the economic crisis we are facing, the situation Italian from the point of view of the economic signal is very positive and even the advantage in terms of interest is now very limited “. In any case, the advantages in terms of interest, although very limited, will have to be compared with a risk that analysts fear, which in any case is difficult to quantify at an economic level.
No state has benefited from the ESM
At the moment, Prime Minister Conte said during his meeting with the press, no European state has yet joined the MEDE, while more than 10 countries have taken over the SURE, including Italy. However, the ESM remains one solution under consideration of the government that Italy could join when needed, Conte specifies:
“I said without any ideological prejudice, if we had cash needs among the financial instruments that we should consider There is also the MEDE but if this does not happen, obviously it does not make sense to take the MEDE to resolve a dispute in the public debate ”.
