August 11, 2022

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The Bank of Italy explains why Putin put our backs to the wall in 5 months

In 5 months, Putin has literally managed to put our backs on the wall. Here’s how he did it according to the Bank of Italy.

During a speech before the Italian Banking Association, Abi, Ignazio Visco Uncover the reasons for this put it in We’ve had our backs on the wall, in just 5 months, causing the consequences that are now for all to see that won’t start to fade.

In particular, according to the Governor of the Bank of Italy, our country is a Recession risks In the event that Russia decides to stop gas supplies. In this case, in fact, there will be a series of repercussions that will affect, in particular, the sectors of foreign trade. Not only that, but the confidence of the Italians in the future will also be at the expense. In such a context, in fact, a feeling of uncertainty will grow which certainly does not benefit the whole good economic system. Deer made, it is clear that the current geopolitical tension(a) It has a devastating effect on the Italian economy as well as on the German economy. This is due to the fact that both Italy and Germany rely heavily on Gas Rossor.

In this regard, Visco stated that The war in Ukraine It has caused uncertainty about the entire world economy with serious consequences for trade as well as for industrial production. The result is a runaway inflation fueled by continuity Increasing raw material pricesAnd the. In any case, the Governor of the Bank of Italy said that if the situation continues, I will intervene Raising the so-called official rates by about 25 basis points During the meeting scheduled for Thursday, July 21. In addition, Visco made it clear that the European Central Bank is committed to developing a program aimed at protect the eurozone. But he stressed that any intervention would only be effective if it was shared by the tax authorities in order to follow the path of fiscal rebalancing. to be rSmall banks are definitely at risk Thus it has less ability to generate income streams that are able to cover any risks. Thus, Ignazio Visco advised them to immediately evaluate any kind of measure to overcome the crisis situation.

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