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The first thundering warning of the European Central Bank concerns pensions. Without too many words, the Frankfurt Institute mentions high risks with reference to the dual Italian and Spanish situation with regard to other public debts and to avoid the perfect storm of rates that could be triggered with future increases. Three variables explain the collapse of the public accounts: the weak capacity for economic growth up to now, the unfavorable demographic transition and the withdrawal of baby boomers. With regard to the Italian and Spanish situation, if the current rigidity was questioned, a warning would be triggered. That being the case, retirement expenditures would increase by three percentage points, which can be verified from 15.7 to 18.4% at present
Vulnerability in the event of a slowdown in economic activity
All the ECB's full badysis and badysis culminated in the latest edition of the Economic Bulletin, which is in line with the long-term projections contained in the Working Group's report on aging. the aging of the population of the European Commission. According to the ECB, for high-debt countries, further consolidation efforts are needed to sustainably lower the public debt-to-gross domestic product ratio, a significant debt burden that makes them vulnerable to future slowdowns in the future. Economy activity or new episodes of instability on the financial markets
In short, the situation is extremely clear and certainly sounds more than an alarm bell. In some ways, there are many similarities with what he said on the eve of the Fornero reform in 2011 when Silvio Berlusconi was in charge of the government. This time to lead the country there is the 5 Star Movement and the League and the position does not seem at all conciliatory. Far from it because if for the ECB, Italy is likely to affect pensions, Deputy Prime Minister Matteo Salvini invites the ECB to give him a reason for the Fornero law to be dismantled. The position is clear and precise and was reiterated during an interview with Radio Capital.
It starts again from the quota 100
And the new pension reform should start from 100 or this amount of age and years of contributions to be earned for access to social security. According to Salvini's intentions, the novelty should already see the day in 2019. It could indeed find a place in the next finance law, by postponing the rules on the revision of early retirement to 41 years of contributions.
The Deputy Prime Minister is not hesitant, reminding Confindustria, Bce and Istat (all more skeptical about the reform of the Fornero law) to have planned the change of pensions to 100 years . European Central Bank on employment or the other side of the coin. According to Frankfurt, the short-term indicators indicate that the labor market will continue to strengthen in the second quarter of 2018. For the moment.
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