Draghi’s speech: what’s wrong, what’s wrong, and some little dance
Mario Draghi's speech to the Senate, which you can read entirely in the previous article, surprised on the one hand, disappointed on the other, and interested on the other.
What has amazed is the length. Frankly, we were used to dry speeches as president of the ECB, but in this case we have almost an hour of speech. Better than Conte, worse than many others and, above all, condensable in much less time, if he had limited himself to the practical and governance aspects.
The President has repeatedly referred to the fact that "Unity is a duty". Our impression is that many will take it literally: the "Duty", as in the military, is done because you have to do it, not because you want to do it, and you try to get it over with as soon as possible. For many, trust will be a "duty", like a military watch. It will be done, expecting it to last as little as possible.
WHAT WE DID NOT LIKE. The fideistic assertion in the "Irreversibility of the Euro" is, from the historical point of view, laughable. Probably Vespasian would have spoken, in his place, of "Irreversibility of the Sesterzio", or Charlemagne of "Irreversibility of the Imperial Lira", but today we do not pay either with the sestertius or with the imperial silver Lira. Asking a question of faith was out of place and, frankly, we were embarrassed for him. "There is no sovereignty in solitude" is a lie that should be told to Japan, South Korea, New Zealand, Uruguay, Singapore .. In short, to the whole world outside the EU. If our state wanted to commit suicide in pursuing a dream we can take note of it, not place it on a fideistic level, nor rejoice in it. These are the duties that must be paid to the current PD and at its highest expression, the President of the Republic, and indicate how it will not be possible, in Italy, to get out of this theocracy without a change at the top.
We didn't like some useless lies, like the one about the gender gap in wages "Among the highest in Europe", when in reality it is the exact opposite:
If he had made such a claim at an ECB conference they would have torn him apart. We are in the Senate, a land of undisclosed knowledge, and it will be forgiven.
The whole environmental rhetoric on "Overheating" and "Raising the oceans" was also little liked, which goes against the trend of empirical observations , but when it comes to "Faith" the reality of the facts takes a back seat. . In this case duty was paid in Brussels for the RRF. It would be funny if the Netherlands then didn't approve of anything and the drawing would jump. At that point I am quite confident that the priorities would be very different.
The discourse on the “Companies to be saved and those“ To be profoundly reformed ”, ie to close, did not appear ethically adequate. Who claims the right to choose who lives and who fails? On the basis of what criterion?
WHAT WE LIKED. The data, even if there has been a bit of a mess when talking about the data of patients in intensive care. Fiscal policy forecasts are also good, with explicit reference to the need for revival and growth and the prospects for reducing the tax burden. There are also good hints on what he wants to do about vaccines, sending Arcuri Primroses to hell. There are also good references to the school and the relaunch of ITIS. The hints on research are also good.
In general, when he talked about practical aspects it was truly an element of unification, when he asked for the “Acts from Fè” he was, on the other hand, extremely divisive. Without realizing that its failure will bring with it what remains of European belief.
We will see if it will be successful in practice, and if it will lighten the proto-European rhetoric.
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The article Draghi's speech: what's wrong, what's wrong, and a few little dances comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/il-discorso-di-draghi-quello-che-non-va-quello-che-va-e-qualche-piccola-balla/ on Wed, 17 Feb 2021 12:32:57 +0000.