ROMA (ITALPRESS) – “Today emergency interventions are needed. We have a number of important risks: the first is the inflation that affects families and companies, in front of which central banks can be the first to move by raising rates, while states can make maneuvers of a fiscal character.” Antonio Patuelli, president of the Abi, spoke at the conference promoted by Confartigianato Imprese at the Chamber of Commerce of Ferrara Ravenna.
Patuelli then analyzed the trends of the financial markets that “they saw yesterday the Italian state bonds to ten years grow to 3,78% for Italy compared to 3,52% of Thursday with an increase of 26 basic points, that is 26 cents, in a single day. The euro countries saw increased the cost of securities at ten years, the United Kingdom increased 26 basic points by 4.82%. The United States yesterday listed the title ten years to 4.28%, about fifty basic points more than Italy. Today the Bce has not the question a few weeks ago, which was how much and when to reduce the discount rate: today the Bce is questioned if, when and how much increase the discount rate”.
“In the emergency the banking rules must be reconsidered: we have first of all the international rules of Basel, which concern the whole West, but the United States has chosen a different road, of less application, developing an improper competition to the other subscribers of the agreement. We must not follow America in the logic of deregulation, because this has led to negative effects such as the Lehman case on international markets. We need to think about simplification procedures that serve banks and businesses, and therefore the appeal that today together with the artisan companies we can make to European and national institutions is to accelerate to emergeential extent the initiatives of simplification that have been for months to the examination of the European institutions,” Patuelli concluded.
– photo IPA Agency –
(ITALPRESS).
