Investing in BTPs to support Italy? Yes, but we must work to cut the debt and pay it less – WWN
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It’s a textbook contradiction: if government bond yields rise, public debt also rises. It means that the more the citizen earns with BTPs, the more he loses as a taxpayer, because the State in which he pays taxes has to pay out more and more to reimburse the BTPs it has issued. As savers, we are happy to see high rates recognized, but as Italians who care about the economic and financial health of their country – also to make it attract investments – it is to be hoped that the yields of BTPs (or BOTs) will decrease.
The vicious circle
Ferruccio de Bortoli reiterates the vicious circle that onEconomy of the Corriere della Sera, on newsstands tomorrow for free with the newspaper, once again calls for the reduction of public debt. And it takes as a topical hook the appeal of Prime Minister Giorgia Meloni, who invited Italians who can afford it to buy their country’s government bonds. Note: Italian public debt means 2,855 billion as of last November, compared to 1,843 billion in 2010. «The interests of wealthy savers – writes de Bortoli – are not necessarily aligned with those of other citizens, especially taxpayers. If the debt is more Italian, as Meloni would like – and you can’t blame her – it is certainly a good thing. But if it were only because others find it neither convenient nor safe to invest in our government bonds, well, then it would be a serious problem.”
Good resolutions about debt
The invitation is to “do everything possible to limit the issuance of government bonds, because they are public debt”. And that debt, «inflated by promising real returns, falls on all citizens. Even those not yet born”. Meanwhile, the European Commission strengthens the superpowers against hostile takeovers, says the weekly Corriere della Sera: but will the new golden power to protect continental businesses work? The problem is that each country still competes for itself and often blocks companies from the same Union.
Speaking of companies, for family businesses, Covid has been, paradoxically, a springboard: in the two-year period of the pandemic, on average, they have become more solid and open to the outside world. This is also thanks to the incoming generations, says the XV Aidaf Unicredit Bocconi Observatory, which will be presented on the stock exchange on 30 October and The Economy anticipates. The cover is dedicated to the physicist Stefano Buono, founder of the startup NewCleo: already the soul of AAA sold to Novartis for 3.9 billion dollars, now he wants to invest in light nuclear reactors.
Paul & Shark’s plans
Among the personalities of the week is Andrea Dini, CEO of Paul & Shark: he changes the brand, that is, he distances himself from “yachting”, and seeks a new audience, expanding production to all clothing. There is also Paolo Dalpra, president and CEO of the Ligurian Racing Force, which is diversifying: after helmets and equipment for Formula 1 drivers, it will also produce for the American Air Force. In the Savings section you will find the map for retiring based on age, with the new rules.
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