IMPOTENCE OF FIRE: the “Money” on loan promised by Conte has not arrived. Defaulting government

"Firepower!" or "Fire Impotence!" . Even yesterday in parliament, dear Giuseppi Conti boasted of the money that his government would make available to companies 400 billion, a "never seen firepower", but, in reality, how much has come to the companies? In a merciless way ItaliaOggi tells us the truth about the warlike statements of the government, and it is a very bitter truth. Let's see the data:

  • only 41.4% of those who applied for the state guarantee loan, up to € 25 thousand, received the amount in question. We note that this is money that should come automatically, since bureaucracy and preliminary investigations are reduced to a minimum;
  • only 24% of those who asked for more than 25 thousand euros, therefore with partial guarantee of the company, obtained the liquidation of the loan;
  • only 27.1% of those who applied for loans with SACE guarantees obtained the loans themselves.

The figure derives from a survey of the Labor Consultants carried out between 12 and 17 June, so it is relatively updated data. The low rate of disbursement also varies according to the geographical area: for loans of up to € 25 thousand in the Center, the disbursement stands at 45.1%, in the North it drops to 41.5% and in the South at 39 , 4%. On the other hand, for loans of a higher amount, compared to 32.7% of disbursements from the North, the value is around 20% in the Center and the South.

So all the "Firepower" is, in reality, Impotence, an inability to disburse funds, among other things not allocated, to the real economy. The phenomenon was easily foreseeable given that between 2018 and 2019 there had already been a collapse of 7% -8% of loans to companies in the banking system: in fact, the stock of loans to companies in the form of companies had fallen by 46 billion from 696 billion to 650 billion between August 2018 and August 2019, while loans to family businesses decreased by almost 6 billion, from 83 to 77 billion (-7%). Paradoxically, the only growth sector was that of loans to households, by consumption, which grew from 536 to 545 billion, also indicating a progressive greater difficulty for families. In this situation, with companies that enjoyed credit of just over 700 billion, it was unrealistic to be able to think of adding another 300-400 at any moment. The question that needs to be asked is: who is Conte advising? Who proposes these frankly demented ideas to him, how can the credit disbursed by 70% be increased in a month? In the meantime, the companies shut down, lay off, and lead to the worst result: the structural loss of production capacity. All for an unexpected government that claimed to have others, the banking system, do their job. Now Count will be able to take it out on the bankers, but it's all his fault.

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The article IMPOTENZA DI FUOCO: the "Money" on loan promised by Conte has not arrived. Defaulting government comes from .

This is a machine translation of a post published on Scenari Economici at the URL on Thu, 18 Jun 2020 11:43:02 +0000.