"Agreement concluded between Italy and the EU" ZON

The President of the ECB, yesterday in the European Parliament in Brussels, said he is optimistic about an agreement on the financial maneuver between Italy and the European Union.

In recent days, representatives of various sectors of the Italian government have been rebadured about the financial maneuver. Although rebaduring and, for the time being, not final, the purpose of the guarantees was to reduce the gap between the obligations of the Italian Public Treasury (BTP) and the German Bund.

Yesterday, Mario Draghi, President of the European Central Bank, visiting the European Parliament, reported various points to the ECON Committee (Economic Affairs). Among these, one also finds the Italian situation with regard to the state of health of the single currency. "The euro area may be exposed to risks arising from unsustainable domestic policies leading to excessively high debt levelsvulnerability of the financial sector and lack of competitiveness ". These risks "may infect countries with similar vulnerabilities or close links with those whose risk originates ", said Draghi again, convinced that "Unsustainable policies eventually lead to socially painful and costly adjustments that could undermine the cohesion of the monetary union".

Draghi, however, seemed confident about the situation in Italy: "I've always been convinced that an agreement can be reached. I have repeatedly said that highly indebted countries must lower it because they strengthen it. But I do not add anything else"Draghi told MEPs.

What starts today will be an important week for the ECB, as we approach the date of the decision on the Securities Purchase Program (Qe) scheduled for 13 December. The Draghi hearing is taking place at a time when signs of a slowdown in the continental economy are multiplying. At the December meeting, the ECB will provide updated data on growth and inflation. A new medium / long-term financing program (Tltro) is increasingly likely to gradually replace maturing ones and support the banking sector. A very useful measure, especially for Italian institutions struggling with a push of propagation.