Georgia Meloni In the last few days he may have realized why Mario Draghi resigned without being discouraged by his majority, and was in a hurry to leave Palazzo Chigi last summer despite the difficult moment for Belpaese.
Our difficulties in drafting the budget law, of which two-thirds of the expenditures were mainly written by the previous government, can in fact be nothing compared to what 2023 had, now upon us, in store for Georgia Meloni.
Ministers Guido Crocito and Matteo Salvini strained in front of The decision of the European Central Bank to raise interest rates againeven if the Frankfurt move was on a grand scale, reveals how well the government is aware that it could have it soon 400 billion euros is a problem.
In fact, Italy needs to issue Government bonds in 2023With these 400 billion, it will not be easy to place them after the big one The end of quantitative easing Which, for several years, covered the emergence of the eurozone countries.
The energy crisis, rising interest rates, the increase in risk spread, and the end of quantitative easing are creating a kind of potential glowing situation for Georgia Meloni.
Two million and 400 billion in government bonds
How Christine Lagarde’s announcement of a 0.5% interest rate increase by the European Central Bank got on the spot Margins Between our government and German bonds it increased by about 20 basis points.
It’s a big problem for a country with debt like ours that in 2023 will have to put in something like this. 400 billion in government bondsall without the umbrella of quantitative easing.
Theoretically B.C.E. Come up with what has been renamed lo Shield spread specifically to interview countries that could face difficulties, but Christine Lagarde has already warned Giorgia Meloni that the tool will only be available to those who “Complies with EU rules on accounts“,
It is no coincidence that Meloni’s first maneuver turned out to be much wiser than expected, since all the resources in deficit were devoted to Invoices There is no gambling in matters of pensions and taxes, despite the promises made during the election campaign.
L’Italia Basically in April, he will find himself with the proceedings against the expensive bills to refinance, which cost at least 22 billion quarters, but with the need to To be credible to international investors So that a large part of the 400 billion government bonds is not left on hand, without counting Higher interest on debt That we will have to give investors.
with the Meloni government That at the moment he does not seem to have many friends in Europe, also because of the Qatargate scandal that sees our MEPs and collaborators at the centre, Italy 2023 could be as difficult as the turbulent years past.
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