“The honeymoon is over”: this is the title dedicated by the Financial Times to the relationship between the Meloni government and the markets. As Il Giornale reports, the British economic-financial newspaper raised the alarm regarding the budget law, the Pnrr, the tax on banks’ extra profits and the maximum limit on plane tickets. “There is a reorientation towards Italy. And people wonder where the country is going”, explains Filippo Taddei, chief economist at Goldman Sachs, in the article. So far, an opinion that cannot be shared, but nothing serious. It is a shame, however, that the economist displays a small conflict of interest on his CV, which is not mentioned by the FT. From 2013 to 2017, Taddei was national economic manager for the Democratic Party.
“The government has repeatedly stated that it is committed to making the PNRR work and markets view the fiscal deficit decision as a test. If they increase debt, it suggests that they are the first to not believe in the recovery”, he then adds. Lorenzo Codogno, chief economist at the Ministry of Economy until 2015, joins the chorus: “There is no doubt, the honeymoon is over. markets or the interests of investors.” And Codogno also lacks credibility: during a speech at the Trento Economic Festival he expressed different ideas. In an interview with Repubblica he said: “The Italian economy is the most resilient in Europe”. Now, the fact that GDP is slowing down is clear to everyone. But let us believe that it is the Prime Minister’s fault and not that. The slowdown is due to the decisions of the ECB. It is Christine Lagarde and her associates who announce that they are doing everything to stop the economy.
Source: IL Tempo
Emma Fitzgerald is an accomplished political journalist and author at The Nation View. With a background in political science and international relations, she has a deep understanding of the political landscape and the forces that shape it.