"Bot and Btp only for Italians". It's a storm on Siri's proposal

The last idea of ​​the League Armando Siri says Renato Brunetta, "risk of creating a further loss of confidence in Italy and a consequent sale of our state bonds". And this concerns the Italian state bonds and the BTPs.

In an interview granted to Corriere della Sera the economist of Lega suggested the possibility of issuing state bonds "reserved for families Italian ". "Special" BTPs would have higher returns than those placed on the international market.

According to Siri this option would have the power to contain spread spreads, but Forza Italia comes a hard warning against the undersecretary for infrastructure. " When we read the proposal – states Brunetta in a note – honestly, we did not believe our eyes, do you realize what Senator Siri said when read by the big banks City of London and Wall Street business, it risks creating a further loss of confidence in Italy and a consequent sale of our government bonds? Already on the London and New York markets the joke that if you want to make money with the Italian construction industry, you have to buy when the economy minister Giovanni Tria talks and sells when he talks to a economist of the League, including him .We now imagine that he has declared such absurdity what can happen between investors who hold billions of euros of our state bonds and who could decide, even just to give a lesson to those who continually attack them, to get rid of x, causing a further increase in yields and spreads ".

The reasoning of Siri, who in Corriere spoke about the decree Dignity, the super-maneuver for 2019 ( Visitor's tax Fornero and income of citizenship), incardina on the cover that the government will have to find to keep the election promises. A problem not a little. The economist Carroccio explained that the intention is to reduce waste, to attract the resources of fiscal peace and finally to end up in deficit for 2.6-2.7% (leaving Europe). And if markets react badly, Siri thinks – in fact – to BTP and Bots for the exclusive use of Italians. " Italian families – he said – who have 5 trillion liquidity come back to recover this part of the debt, pairs to 780 billion, placed near foreign investors, that they are the ones they turn the carroostra of the spread "

But Brunetta defines the declarations of Siri as" incontestable and unavoidable ". Hypothesis, he continues, " made by those who, obviously, do not even know how the financial markets work, that is, by the grace of God ". And to explain " the absurdity of Siri's proposal " asks " how it is possible to exclude foreign investors Treasury auctions". Finally, another concern: " Since he talked about restricting the sale only to families – says Brunetta – does this mean that even Italian banks that systematically buy at auction can no longer do it at from now on, do you know by chance, Senator Siri, another country where this happens? "