It was the first real concrete response of the European Union to the economic and social crisis that erupted with the Covid-19 pandemic. And somehow the “father” of Pnrr, with whom he plays an important role in the future of Italy today. Still, the Surah program did not attract much public attention. And the data that Brussels reveals in its final report on this program today says it wrongly: Targeting only businesses and workers affected by the lockdowns, Sure made it possible to fund social safety nets and saved nearly 500 people in our country alone. work a thousand jobs. Saving the state brings about 4 billion euros in interest.
Eurobonds
Sure, in fact, opened the new season of Eurobonds, which later became the foundation of the Next Generation EU and its Pnrr: The European Commission raised around 100 billion euros by issuing securities to the market, which it later handed over to the Member. States in the form of debt. Italy has collected more than a quarter of these resources, about 27.4 billion. But what good has it done our country if we are constantly dealing with debts, that is, money to be paid back? The difference is in interest: Brussels manages to finance itself in the market at rates lower than our government’s treasury bills. As a result, the Commission says in its report that Italy has been able to take advantage of favorable conditions that allow it to save 3.76 billion in interest in about two years to support extraordinary spending on social safety nets.
Aid to 31 million workers
According to estimates, in Italy in 2020, Sure-financed measures covered around 60% of workers, of which about half of companies are self-employed, one-fifth of which are all SMEs. Percentages fell below 30% in 2021-22. The program in general, Dew. “We can be proud of the tremendous impact Sure has had on European workers and businesses in overcoming the pandemic crisis. This final report clearly demonstrates how such pervasive tools can strengthen the resilience of our societies and economies in the face of shocks.” Paolo Gentiloni, European Commissioner for Economics, one of Sure’s advocates.
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Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
