The phony banking war
Tax on the so-called extra margins of banks: what is being said and written. Damato's Scratches
Unfortunately forced by their now everyday life to treat the shipwrecks of migrants fleeing towards Europe as road accidents, as is now also forced to do by the Osservatore Romano , blaming the "dirty work" – as the manifesto headlines – now of the smugglers, now of the missed or listless rescuers, or both, we must continue to navigate in the often too murky waters of internal politics.
The murky this time comes from the really curious reactions, in full conflict of financial and party interests, to the taxation decided by the Meloni government of the bank extra profits derived from the increase in interest rates, applied only when credits are granted and not when credits are collected and you keep money. "Unfair" earnings, as defined by the prime minister, provoking other controversies for which, however, she can console herself by thinking more about that "91 percent of the consensus" of the common people shouted by Libero than to the internal quarrels of the majority, and this time mainly labeled Forza Italia, or to external ones. Among which Matteo Renzi's protest against "Giorgia's grilling breakthrough" stands out for its rapidity and insistence.
HOW BANKS ARE ON THE STOCK EXCHANGE
Those who, precisely like Renzi, and like the force secretary Antonio Tajani with the discretion of a well-mannered ally, feared and continue to fear almost irreparable damage to credit institutions, surprised by the government's intervention to finance the reduction of deductions from salaries and defending the sustainability of mortgages, especially those on first homes, remained nailed to the Stock Exchange of the day before yesterday. Yesterday's one, which marked a 1.3 per cent "rebound" in bank shares, also favored by a hasty correction to the first text of the intervention, served little or nothing.
Yet completing the 1.3 per cent rebound was the 3.68 per cent increase in the Italian banking index, against the 1 per cent increase of the European "cousin" indicator. “The rebound mitigated the weekly deficit (-3.7). It should be remembered that since January bank shares have still grown by 28 per cent”, explains the business newspaper Il Sole 24 Ore , still owned by Confindustria if it has not been purchased, not only at newsstands among the very few open at night, by prime minister or a figurehead.
WHAT THE FACT OF LABOR WROTE
As for the gift to the grillini complained about by Renzi, professional honesty also requires us to remember the proud claim of the usual Fatto Quotidiano . Whose director wrote, verbatim: “It is a success of the oppositions: of the 5Stelle and the left who first posed the problem and of the Schlein model Pd who follows them. But also of the Fact , which since the time of Draghi has been asking to finance social policies with robust liposuction of the excess fat accumulated by those who have made a profit on Covid, war and interest rates: banks, insurance companies, pharmaceutical, energy and military giants. A genius or prophet, this Travaglio.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/tassa-extra-margini-banche-commenti-giornali/ on Thu, 10 Aug 2023 05:04:05 +0000.