Attualità e leggende Parte II

I Paesi “virtuosi”

Il principio secondo cui uno Stato deve risparmiare per poter spendere in futuro, principio divenuto legge con i trattati stipulati, inizia a scricchiolare.

A (parziale) smentita di questa famiglia di principi di “salute della finanza pubblica” universalmente riconosciuti, passiamo in rassegna i rapporti deficit/PIL dei principali paesi europei.

I “PAESI VIRTUOSI” IN RELAZIONE ALL'ENTRATA NELL'EURO.

Portugal Italy Ireland Greece Spain Germany France

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

Current Account 1996P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

Current Account 1997P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

Current Account 1998P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

Current Account 1999P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-12.0%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

Current Account 2000P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-12.0%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

Current Account 2001P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

Current Account 2002P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-7.0%

-6.0%

-5.0%

-4.0%

-3.0%

-2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

Current Account 2003P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

Current Account 2004P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-12.0%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

Current Account 2005P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

Current Account 2006P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-20.0%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

Current Account 2007P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-20.0%

-15.0%

-10.0%

-5.0%

0.0%

5.0%

10.0%

Current Account 2008P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-14.0%

-12.0%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

Current Account 2009P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-12.0%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

Current Account 2010P

erc

ent

of

GD

P

Portugal Italy Ireland Greece Spain Germany France

-12.0%

-10.0%

-8.0%

-6.0%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

Current Account 2011P

erc

ent

of

GD

P

Il debito pubblico italiano

Sfatiamo qualche mito circa il debito pubblico italiano, di cui sentiamo parlare ogni giorno.

Nel periodo della “spesa allegra”, come viene chiamata oggi, lo Stato creava ricchezza al netto per i cittadini, creando direttamente ed indirettamente lavoro.Questo circolo virtuoso aveva molte conseguenze nell'economia italiana:

negli anni '80 la Sip era la prima società di telecomunicazioni al mondo. Primato nell'innovazione tecnologica e nella copertura capillare del territorio;

l'accesso al credito per le aziende ed i privati era abbastanza semplice e, di fatto, garantito per legge;

i treni arrivavano sempre in orario e le strade di sera erano sicure.

Il debito pubblico italiano

- Are US treasury bonds still safe to invest in?

- Very much so. I think this is not an issue of credit rating. The United States can pay any debt it has because we can always print money to do that, so there's a zero probability to default.

Le “confessioni” di Greenspan