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“Just blame the citizens. More resources are needed in health “, thus in a 60-second video, the leader of Italia Viva, Matteo Renzi, “Explains” from his point of view why the government, and its political force, “are fighting in full emergency.” “Because you argue? This is the question that I ask myself and I want to answer very clearly – explains the former prime minister – we are discussing exactly how to deal with the emergency coronavirus. We cannot keep saying ‘everything will be fine’, we cannot blame the citizens ”.
Although short, the video is full of inaccuracies and approximations. Here we summarize the main ones.
– Funds for healthcare They are not 9 billion but 16. The Minister of Economy reiterated this yesterday Roberto Gualtieri. The 9,000 million to which Renzi refers are destined to proximity assistance, telemedicine and digitization of services. To these must be added another 7,000 million euros for the renovation of hospitals that fall under the heading “Ecological transition” of the Recovery Plan.
– At the moment no shortage of resources to deal with the emergency, if there is anything slow use of funds Now available. Two weeks ago, the Treasury canceled two auctions of government bonds under study of the great availability of cash and reduction of financing needs. So far, the Ministry has already assigned 9 billion euros to deal with emergencies. Three thousand millions already allocated to regions have only been partially spent.
– Using the ESM would change little or nothing. The 36,000 million to which Renzi refers are in any case loans that would increase the public debt. Exactly as if the market were used by issuing securities. The only difference is that the interest on ESM loans is slightly lower, at least in theory. Therefore, there would be the possibility of saving about 200 million a year in interest, on a total expense of more than 50,000 million euros. At the moment, the rates of the Italian securities issues in any case they are null or negative for maturities up to 7 years, a ten-year BTP pays around 0.5%. It is no coincidence that until now no european country has applied for funding Month.
– A culture and tourism the recovery plan assigns 3,000 million euros. In addition to the aid already disbursed during 2020, to this sum are added the resources allocated to the remodeling of buildings such as hotels and accommodation facilities. If you want to increase this dowry, it is not necessary to resort to the Month loans as explained.
Renzi complains about the ongoing disputes and discussions in the majority about the use of the funds. But to be honest, so far it’s only been he who argued, with arguments that don’t seem particularly strong.
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