Thus the Minister of Economy on the monetary policy of the European Central Bank: “A rise in interest rates unknown to a world that used to live with zero or negative rates creates problems for us”
“The management of monetary policy, aimed at countering inflation, is leading to increases in interest rates unknown to a world that used to live with zero or negative interest rates. This poses serious problems for those who have heavily indebted budgets such as the Italian one”. This was stated by the Minister of Economy, Giancarlo Giorgetti, at a conference in Milan organized by the Order of Accountants.
“Accounts in order, absolute need for Italy”
Giorgetti then underlined that the government’s “approach” to public finances “has been prudent and responsible and we will continue in this sense”. “Having tidy accounts is an absolute requirement for our country, which must maintain market confidence” in order to avoid an increase in “financing costs” and “avoid repercussions” for households and businesses. “Debt to GDP stands at 144.7% in 2022, it will be the point of reference in relation to the discussed and under discussion review of European economic governance”.