In Italy, new cases slow down and the healed increases. However, in this scenario it is expected the Government to extend the restrictions that expire on April 3, as anticipated by the Minister for Regional Affairs, Francesco Boccia.
Meanwhile, the liquidity in small and medium businesses is starting to deplete, as certified by Confesercenti, a professional association. It is assumed that, since the epidemiological crisis has started, businesses had lost 18 billion in revenues, of which 11.5 billion from commercial, tourism and catering businesses. According to Confesercenti, to stem this shock, it is necessary to act on the credit lever, even if the loan facilitation mechanisms put in place by the Decree Law Cura Italia are not working. Unfortunately, although Cura Italia has made available measures to facilitate access to loans, too many businesses are unable to obtain positive responses from credit institutions. And the available banks are also facing an excess of bureaucracy which prevents them from using the available tools. On this purpose, the Minister of Finance, Gualtieri, has announced a task force on mortgage moratorium and SMEs
fund.
On EU issues, Paolo Gentiloni, former PM and current Commissioner for Economic Affairs, has underlined the need for a EU common plan, after the yesterday night press release by EU Commission on the commitment to evaluate any options, within the limits of the Treaty in order to correct the misunderstanding on the rejection of Eurobonds by Von der Leyen.
Apart for the possible collapse of South of Italy’s healthcare systems in case of a Lombardy scenario, the Southern population, and especially cities where mobsters have strong foothold, is risking to end up in the trap of usury. According to Nicola Gratteri, the head of Catanzaro Antimafia pool, entrepreneurs will face serious difficulties, because they will need real money in hand. According to Gratteri, the 'Ndrangheta will lend usury money even at low interests to entice, incentivize entrepreneurs to turn to the syndicate usurers, who are basically those who need less guarantees for payment.
