The left no longer knows how to attack the Meloni government and is agitating for dissemination

A sinister attempt to create anxiety, apprehension and fear in less educated Italians about the complex international financial dynamics. After the fairy tale of the return of the fascist dictatorship, of the danger to freedom of expression and thought, having failed miserably, the local left, devoid of concrete ideas and proposals, is trying to follow a new trend. That of the spread, or difference between the yield on Italian and German Treasury bonds. An important parameter that, if analyzed together with ten or fifteen other flows in the system, can measure the temperature of our economy. In other words, taken in isolation, without contextualization, it actually says little or nothing. But obviously liberals (despite knowing it) never specify this. On the contrary, yesterday the left-wing “newspapers”, those that last February described as “the return of the black shirts” a banal fight between some right-wing activists and other representatives of left-wing collectives in front of the Michelangiolo classical school, in Florence, used apocalyptic tones. A person without knowledge of financial science, when reading certain articles, could not have had any other reaction than an increase in heart rate. Anyone would have asked themselves basic questions.

“What will happen to my savings?”, or “Will my mortgage payment triple?”, or “How many government employees will be laid off due to lack of funds?”. Legitimate questions, to be clear, for those who find certain subjects difficult. Doubts created ad hoc to instill doubts in the Meloni government and its assets. A sneaky little game, played as Italians. And not even new. In reality, it is the outline of what many analysts consider a true coup: the one that in 2011 forced the resignation of Silvio Berlusconi as Prime Minister. Twelve years ago the spread had reached five hundred basis points and every day, in every television conversation, the message conveyed was always the same: Italy is one step away from bankruptcy and default. On November 10th, one of the most important economic newspapers featured on the front page a phrase that became the symbol of that disastrous political season: “Hurry up”. Today we are below two hundred points, or less than when, at Palazzo Chigi, there was a man who certainly knows financial dynamics like few others in our country: Mario Draghi. Between June and July 2022, the BTP-Bund differential stood at more than two hundred points, reaching a maximum of two hundred and forty-six on June 13th and settling at two hundred and thirty-seven points on July 21st. Today, despite having to highlight an increase of twenty points in the month of September (from one hundred and seventy to one hundred and ninety-two), we live in a reality that deserves attention, but which cannot, in any way, be defined as “dangerous for our savings.” The center-right, aware of the drama staged by the left, decided not to remain silent. But, on the contrary, to relaunch. “I see this concern above all in the desires of those who imagine that a democratically elected government that is doing its job, that has stability and a strong majority, should go home to be replaced by a government that no one chose – underlined the Prime Minister Giorgia Meloni – I really like the debate, the names of ministers and technical governments are already being mentioned. The usual suspects would like a provisional government and the left already has the list of ministers. I am afraid that this hope will not translate into reality, Italy remains solid and has a growth forecast above the European average for next year as well, above France and Germany. But who should the technical government be supported by, those who have the super bonus?”

Source: IL Tempo

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