May 17, 2022

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GDP, Bonomi: “Data raises fear of recession, we need reforms”

For the President of Confindustria, it is more necessary than ever for Italy to complete important reforms at the government table. The parties, who are engaged in a “battle of the flags”, will hinder Prime Minister Draghi. Bonomi opens up the possibility of considering Italian nuclear power production and warns: “We are not immediately ready to say enough for Russian gas”

GDP data for the first quarter of 2022 is not reassuring: Italy, says Confindustria President Carlo Bonomi, in an interview with Directorcome on Mario Secchi, could go into a slump. The situation is more complex now than it was during the Covid-19 pandemic. “Today, unfortunately, we are in the presence of a series of external components: increased raw material prices, energy costs,” says Bonomi, who sees it more necessary than ever to continue with the reforms that are currently being made. “A dead end”: taxation, competition, active labor policies, justice. And the fault, according to the head of the Confindustria, will not fall on the shoulders of Prime Minister Mario Draghi, but on the parties committed to carrying out the “battle between the flags”.

Dragons and parties

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Relations between Confindustria and Prime Minister Draghi are going “very well”. Bonomi underscores how the prime minister managed to reposition Italy “with an authority in its natural course: Europe, America, NATO”. The Palazzo Chigi-Quirinale axis also works well: with Draghi and the President of the Republic Sergio Mattarella, Italy can count on a “pair of squares”. The problem is that “the parties do not have the same interest in this great geostrategic design.” Political forces, according to Bonomi, do not allow Draghi to implement the exact reforms that Italy needs: “They started slowing down the reform procedures for the administrative elections last fall: Turin, Milan, Rome, Bologna, Naples. Then there was a budget law that came in the framework of the Quirinale elections. Unfortunately, We will still have a very long electoral period, a numerically significant administrative period The round is voted in June, we will have regional elections in Sicily in November and hopefully the political vote in March, unless they want to anticipate it. You have to stay close to the prime minister to be You have the strength to make repairs. Draghi had a clear idea of ​​what to do, not from today: the problem is that the parties give him the opportunity to do it.”

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“Italy is unable to completely replace Russian gas”

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The Penalties Adopted against Russia does not affect the “financing capacity” of Moscow. For Bonomi, if you want to deal a serious blow to the Kremlin, “Russia’s exports of gas, oil and coal must be stopped, but the effects must be evaluated very seriously.” Among these, we must think about what would happen if Italy banned the import of Russian gas. For the head of Confindustria, “We are not able to completely replace Russian gas at once, this will mean the collapse of the country’s production.” However, the Association of Industrialists is still ready to support “the government in the decisions that it will take.”

Nuclear power in Italy

One of the most discussed issues in recent weeks has been Italy’s position on nuclear energy. Bonomi – according to Italy’s “decades of faulty energy policies” – reflects how the country is stuck in a “34-year-old referendum on technologies 34 years ago. Technology has changed everything. I would like this country to discuss the advantages: There is a new generation of energy Nuclear, can we talk about that?” For Bonomi, the reasoning should be about “merit” and should find “a basis for discussion in Europe”, where “14 out of 27 countries” are already working on nuclear energy.

From pandemic to war in Ukraine

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For Bonomi, talking about industry doesn’t just mean talking about productivity. It is also a “national security issue”: consequences The war in Ukraine They prove it. After the economic recovery brought about by the end of the worst period of the coronavirus pandemic, “the time to restart the great economy seemed to come.” And they are, according to Bonomi: “The light at the end of the tunnel was another train, the light of Putin’s war, to the growing tensions between the United States and Russia, and to Europe that risked being a Manzoni pottery among iron bowls.” According to Bonomi, it is time to “look back at reality and engage with Italy with the idea that we are in a conflict that will shape a new world order. What game do we want to play? Do we have a vision?”

Economic crisis and labor costs

Another open game at the government table is about world of work. According to Bonomi, it is necessary not to increase taxes: “16% of Italian companies have already reduced or stopped production due to increases, if war conditions continue, another 30% will stop production, which means that almost” out of two companies in Italy risk stopping. Bonomi says Confindustria is willing to sit down at a table with the Secretary of Labor, Andrea Orlando, but first it should have a proposal to discuss. He specifies: Adapting future interventions to a different contract renewal would be a “wrong” choice.