Claudio Borghi's speech at Omnibus really listening because it explains things that on TV, especially at La 7, are never heard.
The first point: the SURE, this great fund that Conte has already said would like to use, in reality, like the ESFM that "Saved" Greece will still be guaranteed by individual states. It is not a gift from the Union, what we will take will guarantee it, exactly as it does for BTPs!
Second point: the SURE should be useful to "Flexibilize" the work, if it is as good as the German "Kurzarbeit", that is, more or less, our layoffs, but if it is bad, given the European request for "Competitiveness", it will be HARZ IV, that is, a short and unsecured work limbo. Are we sure that our unions will do well?
Third Point: however, it is debt guaranteed by the Italian state, exactly like BTPs. Why not use BTPs that allow us to measure the debt according to our needs.
Borghi is then attacked by the presenter Sardone because the "BTP would not be enough". Then Borghi points out that the last auction on June 3 was announced on SUNDAY, as if he wanted to sabotage the auction itself, but had 100 billion in demand compared to 14 in bidding. Then these securities will be resold to the ECB and will not cost us ANYTHING. What do we need mES, SUre and Recovery Fund for? NOTHING
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/borghi-ma-i-sindacati-vorrebbero-il-sure-che-spinge-alla-precarieta-il-tesoro-cerca-di-sabotare-i-btp/ on Mon, 08 Jun 2020 14:21:52 +0000.