Of Filippo Caleri
And in addition to the ECB, the IMF has already raised the red card against a revision of the current legislation
The European Central Bank he decided: the Fornero you can't touch it. Or rather if you touch it it will be painful (financial) in the long term. A Matteo Salvini, which built part of its electoral success on its scrapping, ears will be ringing. And the challenge that, in a hypothetical government with the League within, is very difficult to find in front of you. Considering that other international bodies such as the International Monetary Fund they have already raised the red card against a revision of the current pension law.
In a recent study three IMF economists Michal Andrle, Shafik Hebous, Alvar Kangur and Mehdi Raissi titled “Italy: Toward a Growth-Friendly Fiscal Reform” they explained that at the moment our pension expense, despite the criticized and harsh Fornero reform, with the 16% of GDP is the second highest, surpassed only by Greece. A consideration that effectively stops Salvini's scrapping ambitions. He also joined the IMF Draghi He immediately made his thoughts on the matter known: “Many countries have already implemented regulations reforms of pension systems after the sovereign debt crisis, although the pace of reforms has slowed recently. Further reforms in this area are essential and must not be delayed, also in light of economic policy considerations”.
This is the extract from economic bulletin of the European Central Bank which will be published tomorrow morning. Citing Eurostat statistics, the ECB recalled that the number of people aged over 65 compared to the total number of those who work is expected to grow by just over 30% In the 2016 to beyond 52% In the 2070. In Italy, where this percentage is already among the highest in Europe, those over 65 years old in 2070 they will be beyond the 60%, a level that the monster country will share with Greece and Cyprus while Portugal will hold the negative record with the 67%. The aging of the population will have important macro-economic and fiscal implications for the eurozone. In particular, the aging of the population will lead to a decline in the availability of the workforce and “it is likely to have a negative effect on productivity while the savings and investment implications will vary over time, depending on how the entry into the ranks of pensioners of the various age classes will take place, starting from the baby-boom generation”.
In short, for those who thought that with a simple pen stroke if one of the most hated laws by Italians could be cancelled, it will have to wait until solutions, at this point to be invented from scratch since the resources don't seem to be there, of the next executive. What is certain is that the clash of points of view leads back to the eternal conflict between the supremacy of the economy (and therefore respect for economic balance) and that of politics. The fate of pensioners hangs in the balance who will win the duel. There is no point in racking your brain to understand which side the Italians are on today.
Source. IlTempo.it