lunedì 23 marzo 2020

The Conte degli Incapaci government wants the noose around the neck of Germany, Germany says NO! I did not understand that you have to get out by getting the money back from Mes.

In the next Ecofin it is not excluded that the other thorny problem related to the activation of the ESM and the use of its huge cushion of at least 400 billion euros will be called into question. Some countries, such as Germany, have expressed reservations about the immediate activation of the EU's strongest bailout fund, believing that there should be a better picture of the overall impact of the pandemic and the use of ESM funds. .. the latest document in support of the euro economy.

The ESM is fully functional. We have an unused lending capacity of € 410 billion, equivalent to around 3.4% of euro area GDP. As for the ESM, I don't think it's a question of expanding the role of the ESM because we have our unused lending capacity. And we have our tools, our toolbox. And most of those have not been used in the past.

This crisis is different from the euro crisis. Here we are dealing with a symmetrical shock. And at the same time, all our Member States continue to have access to the market. So it's not like what we saw in 2010, 2011 and 2012 when countries lost market access and ESM had to intervene. We had a different situation, a different type of crisis. Our countries, our 19 Member States all have access to the market. And very low, historically low interest rates. So it's all very different. But the Eurogroup has rightly asked us to examine what we can do, how we can contribute in these very different circumstances and which "

Preliminary remarks by Klaus REGLING, CEO of the European Stability Mechanism, are against it and I say less badly otherwise we remain prisoners like Greece of controls not only European but also of a private body like EMS.

ITALY MUST HAVE THE BALLS TO ASK THE MONEY PAID BACK AND TO CLOSE THIS LAUNDRY IN HAND TO GERMANY
remopulcini

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