The European Commission has definitively rejected the economic measure and now the process has begun that should lead to the opening of infringement proceedings against Italy for excessive deficit. The "possibilists" make their way in the government, led by the Minister of European Affairs Paolo Savona, that is, those who would be ready to tweak the maneuver to favor a negotiation with Brussels while avoiding the procedure. But at this point the government can afford to go back? No, according to the philosopher Paolo Becchi, interviewed by Lo Speciale.
Minister Savona speaks of a serious situation and seems to be open to possible changes. This is truly the right path?
“I am surprised by some statements put into the mouth of Paolo Savona and which would demonstrate a desire to rewrite the maneuver. I find it very strange that he could have pushed himself to make such decisions. I think the Government shouldn't change anything, because this maneuver represents the minimum wage. If there is a risk of an infringement procedure, the deficit should even be increased, not diminished. I say this because it is not Italy that is in the wrong, but Europe".

Agree, but the European commissioners have the upper hand, or not?
“The European commissioners are applying the parameters of the Fiscal Compact which provide for a balanced budget and a minimum overrun of the deficit, but on this point they are completely incompetent. The Fiscal Compact is in fact an intergovernmental treaty and the Commission's task is instead to ensure compliance with the dictates contained in the European treaties; where the excess of the deficit-GDP ratio is set up to 3% with the possibility of going even further for a very limited period if the use of public investments becomes necessary. I don't understand why anyone, Savona in the head, raise this issue of the Fiscal Compact and how the Commission has no right to impose its criteria".
So to avoid the infringement procedure, what should the government do??
“Certainly not going to talk to Juncker, meeting that would be completely useless. What are we going to tell the president of the Commission? Italy cannot take any step backwards. He would have a long way to go to face the onslaught of the spread”.
Which?
“Make citizens buy their debt. There is still a lot of private savings in circulation and by going to the bank you could buy BTPs. It's not true that no one buys them anymore, the problem is banks that don't sell them. I tried it myself. I went to the bank where they offered me all kinds of products, derivatives, various funds, but they replied that BTPs cannot be purchased. I was forced to turn to a real estate brokerage company. Banks earn very little from this type of operation".
If so then how to fix the problem?
“It would be enough for Minister Tria to launch a promotional campaign aimed at all citizens who have the economic means to purchase BTPs, perhaps turning to the post office which today mostly carries out banking services, delegating the payment of bills to tobacconists. Buying BTPs is an investment for the citizen. If I play the stock market and lose all the money I have, purchasing BTPs at 4% I still get a return higher than the inflation threshold. It would be a huge gain.".
But the government does not seem to have taken this into consideration?
“The government sometimes seems incapable of managing situations. He took his time issuing BTPs and then complains that no one is buying them. But to be purchased the goods must be sold and promoted. There's no need to go back, but move on. Without excluding the use of a parallel currency. The government contract is cited for any matter, but no one remembers that it talks about minibots, that is, small denomination government bonds to pay the state's creditor companies. Whether or not they are thinking about this solution? I'm not in government, but it doesn't seem to me that anyone is preparing the minibots since there's no mention of it at all".
He sees risks for Italians' savings?
“We are under attack, this is there for all to see. The infringement procedure is no small matter, it is true that it will take time before activating it, but the signal for the markets is still negative. The credit system is at risk and with it the entire system of businesses that live with access to credit. When you are under attack you have to defend yourself. I hope I'm wrong, but I don't see a great defense capacity now. We are heading towards a new recession and we still have to emerge from the previous one. We are the only country that has yet to overcome the old recession and this is thanks to all the governments we have had in recent years. The only way out was to increase the deficit. They didn't let us, but now the tools to defend ourselves are there. Starting with minibots it will be possible to arrive at a national currency parallel to the euro. But if you don't even think about it..."
SOURCE: https://www.lospecialegiornale.it/manovra-bocciata-parla-becchi-siamo-sotto-attacco-e-lora-dei-minibot/