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0 ITALY PUBLIC FINANCES ARE IN A STATE OF RUIN SIMILAR TO THE IMMENSE ROMAN EMPIRE TREASURES, MUSEUMS AND ARTS, THAT CAN NOT BE SERVED BECAUSE THE COUNTRY DOES NOT HAVE RESOURCES, WHILE THE FEW RESOURCES ARE WASTED. THERE’S NO TIME TO WASTE 158.7% DEBT/GDP. KNOWLEDGE, COURAGE, HUMILITY, REQUIRED BY ITALY POLITICAL CLASS TO STOP THEIR IDEOLOGICAL EFIMERAL POLEMICS DISCUSSIONS, FOR PRAGMATISM AND FOR THE GOOD AND WELLBEING OF THE COUNTRY AND ALL THE ITALIAN PEOPLE.
Important and highly meaningful former ECB Governor speech about policy-making based on empirical data and concrete issues, in stark contrast with the subjectivity of opinions becoming an echo in a vacuum of decisional power. The incredibly difficult task of policymakers, that having observed the empirical data, have to make decisions, where the three main qualities required can be “Knowledge, Courage, Humility”. Empirical data would provide the Knowledge about the tasks, the Courage of taking a decision, the Humility of correcting policymaking mistakes.
Famous “whatever it takes” speech, wherein an important passage, former ECB Governor, clearly explains :
“When people talk about the fragility of the euro and the increasing fragility of the euro, and perhaps the crisis of the euro, very often non-euro area member states or leaders, underestimate the amount of political capital that is being invested in the euro.
And so we view this, and I do not think we are unbiased observers, we think the euro is irreversible. And it’s not an empty word now, because I preceded saying exactly what actions have been made, are being made to make it irreversible.
But there is another message I want to tell you.
Within our mandate, the ECB is ready to do whatever it takes to preserve the euro. And believe me, it will be enough.”
