On the payment of the third instalment of the PNRR to Italy "it is a matter of hours, but I think the situation is defined. From the information I have, the situation is defined and therefore we are absolutely optimistic." This was announced by the Minister of the Economy, Giancarlo Giorgetti, on the sidelines of the informal Ecofin in Stockholm.
ECB President Christine Lagarde was "greatly surprised at how much better the Italian economy is doing. Italian entrepreneurs, and this is my reflection, are much better than politicians, obviously, and also than analysts who normally underestimate our abilities", the head of the Ministry of Public Accounts lets slip. Which then – always on the PNRR – specifies: "On the loans we make a reasoning as a good family man, as it is written in the Civil Code: the loans of the PNRR cost 1-1.5%, so it is better to take those there. How much do those of the Complementary National Plan cost? 5%. So do we take them? I don't know, let's see..."
The Minister of the Economy, following his reasoning based on common sense, adds: "If I have the opportunity to take loans right now at 1%, perhaps reviewing, exchange, prioritizing projects, I take them. If I have to take those at 5%, as a good family man and as a good finance minister, I think twice."
The owner of Via XX Settembre then focused on Italy's "counterproposal" on the reform of the Stability Pact: "Consider investment expenditure, in particular those eligible for PNRR purposes, and defense spending, for example those relating to Ukraine, differently than the others". The Minister made this clear in relation to the confrontation he had this morning with his German counterpart Christian Lindner. "You cannot put a country in front of the prospect of choosing whether to help Ukraine or break the rules of the Stability Pact, it seems to me an absurd thing", pointed out the Northern League representative.
"The ESM is a part, not the only one, with respect to various situations that are still under discussion on which we also have our requests, for example the Banking Union", Giorgetti then advances to those who ask him about the EU requests to Italy to ratify the ESM. Regarding the position of those who want Italy to proceed with ratification first and then deal with something else, the minister replies: "We have another position: we must begin to discuss everything".