THE SURE CONTRACT IS SECRET. Because the government does not want to reveal the conditions agreed with the Commissioner
Giuseppe Liturri of "La Verità" asked, in the context of the rights of the public to information, to be able to obtain from the Commission copies of the contracts that allowed Italy to obtain the famous MES funds, three tranches for a total of 16.5 billion which should be used to pay the layoffs in Italy. These are agreements that should be public because they bind the Union to Italy and there should be nothing secret. Instead…. a substantial part of these agreements remained confidential and this at the request of Italy.
Why did our country ask that part of the data remain secret? It can be understood for some secondary parties that they would violate, it seems, the right to privacy, but because, for example, the legal opinion of the ministry has been completely secreted. Because? What did it say? Furthermore, the SURE is not privileged, but…. it is not possible to issue more senior debt than the SURE, if not within a certain threshold. Which? It is not known.
However, something comes to understand from the unbleached parts, namely that, in any case, there is a limit to the debt that can be issued with a higher privilege than that of the SURE. now given that the ESM loan is DEFINITELY privileged, how can the ESM be compatible with the SURE? We don't know, precisely because the contract is secret.
We also find that if market conditions are not considered to be adequate, the Commission has no obligation to grant the SURE loan, but can act as a broker and offer third party loans. In short, the commission is reduced to the condition of broker. But can it be?
However, it seems INCREDIBLE, that in a dramatic situation like the present one, with a vertical fall in trust in the institutions and the lack of an elected government, secret clauses are placed in a financial agreement the size of the SURE. The paternalistic and inadequate behavior of the Italian government continues. Conte is not a man of the people, and that is why he refuses the polls.
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The article THE CONTRACT OF THE SURE IS SECRET. Why the government does not want to reveal the conditions agreed with the Commissioner comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/il-contratto-del-sure-e-segreto-perche-il-governo-non-vuole-rivelare-le-condizioni-concordate-con-la-commissario/ on Wed, 23 Dec 2020 18:24:45 +0000.