
Today from comfortable seats in the assembly hall located in Via Roentgen, I attended a debate over the crisis between the government (in the right corner, blue Giulio Tremonti ) and the opposition (in the left corner in red Enrico Letta ).
To be honest actions were more a lesson, as promised by the ocandina , a debate, but first things first.
Guido Tabellini, in his introductory speech, was very clear with respect to what are the villains who sawed the legs all'eonomia World:
- Leverage, over the years, has reached excessive values, so it was a very positive moment pass situations, situations of indebtedness. Just this debt has led to the much underestimated systemic risk, like an epidemic that has led banks and brokers into the abyss.
-the system of compensation (exaggerated) of managers and team leaders, has mouth-watering white-collar Wall Street, which closed their moral hazzard in a jar of peanut butter , and have began to march on the shoulders of shareholders.
-the system of compensation (exaggerated) of managers and team leaders, has mouth-watering white-collar Wall Street, which closed their moral hazzard in a jar of peanut butter , and have began to march on the shoulders of shareholders.
-a monetary policy that did not bother too much financial risk.
-imbalances global. This point is particularly dear to me, Tabellini argues that in fact (given also the policies adopted to participate in the G20) the participation of countries "developing" to global finance, is decidedly understated and obstructed. Despite the crisis, has not yet understood that we must act (and thus to participate) in countries where the funds are actually committed. The liquidity of small countries, but very productive, should not be treated on a par with that of USA and EU.
The Rector says, as well as other stakeholders, that salvation is in the middle. What should afforntare the crisis without sin of optimism and liberalism, but even a fish on a dive restrictive policy, to avoid the closure of access to credit. He also argues the importance of timing of intervention and removal of financial incentives, so that you are spending in recent months.
In Italy the situation is complicated. The problems are the same as always, the public debt exaggerated (118% of GDP, expected in 2010), related mainly to the low investment growth and the labor market. The solutions that have emerged, whereas the rest of the debate, a recapitalization of the banking system, but mostly a series of measures other than those in Anglo adottatte. In fact, if in England there are 40 multinational companies that save sufficinete to resolve the crisis, in Italy there are a multinational 5 , and certainly our economy is based on many other subjects, that the 4 million who get up every morning at 6 the damper their own business. The state, therefore, should deal with, once again, to reform the situation of small and medium enterprises, which today are surrounded by a law dating back to 70.
Tremonti, having taught a lesson in Cartesian philosophy, accuses the modern economy have had the arrogance to believe science can regulate the market with universal laws, forgetting that every case is different depending Environment in which it occurs. The Minister, then, minimizes the crisis in September 2008, in fact, it was thought of experiencing a war, lose it, and without even having fought. Instead, the losses were very limited, the rescue and recovery (faster in the USA) of local economies. In short, the systemic crisis was not as monstrous as everyone thinks. When asked "why the crisis? Tremonti says that's been developed are managing globalization hurt , in 20 years of global change, in fact, the money was redistruibuiti the globe, but the nerve centers of finance remained the same. The states, rather than invest in capital money, they should deal with human capital and strategies "geographic". Tremonti also looks to Italy with a critical eye, emphasizing the eternal gap north / south and called for a federal reform, which allows to overcome the asymmetrical forces of our country, where half of the territory is out of the political representation and the fight against tax evasion . In two words "democaticità economy."
Letta opened his speech with a romantic quote of the Betrothed (where Don Abbondio describes the plague as a fire cleaner, more or less short) as the acumen of the readers suggest, just replace the word "plague "with" crisis "and you get the catastrophic vision together and cleaner than what we experienced engli recent months. The analysis of the MP is much more political, with a first look at the Americas (where the political class has failed to curb the nightmare of the loans, but even worse, has influenced the decisions of the FED) and then with reference to the European , where a succession of different leadership (before the strong power of France, then the weakness of the Czech Republic) has paralyzed the possibility of significant reforms (ricordatevolo this point, because in a few lines unleash hell).
Letta's recipe is a fusion of European shares and funds, so the conentrare captiali pter in a single strong (Tabellini also spoke of a strong global government). Letta then closes with a beautiful phrase "the crisis is the daughter of inequality."
E 'emmezza spent nearly an hour, and apparently it's time to slay a bit'. Tremonti takes to heart the little dig about the reforms, went the accusation "your fault" and without many reservations expressed his disagreement with "I've been waiting to try to defer as much as possible TV talk show." .. and started the brawl. The minister begins to list the activities carried out within 14 months of government Berlscuoni (nuclear, universities, security), and read answers with concrete facts, denouncing the lack of reform in relation to quasi-employees and time perpetuity. There is resentment, but I'm happy because the tipina blonde with red pants that are beside me, ride with me.
speech interesting, so many people living and moments of hilarity (one on everyone when Tremonti, in trouble with the microphone, announcing "I was forced to silence, by economists). Now that I understand something of the past few months, I can bully the next time you jump off a serious talk. Mica little eh.
PS chairs the assembly hall are on another level, crush down the seat at the movies and bzzzzz bracelets are also rising. 8 votes. Thanks Dante.
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