Orsini: energy measures now, Stability Pact must be breached

"The bill decree must be grounded immediately. And, given that we are facing an international crisis and alone it will not be enough, we must also immediately get the measure on hyper-amortisation off the ground and positively close the chapter on Industry 5.0 for those companies that have invested and believed in the government's commitment,' he said. This was stated in an interview with La Stampa Emanuele Orsini, president of Confindustria. "We cannot allow trust between companies and institutions to be broken, we cannot leave anyone behind. These measures are essential to keep the country alive,' he explains. "It is clear that every conflict is a defeat for mankind, but I note that in just one week we can already see a strong speculative component. I understand that gas is bought at higher prices, but right now the real problem is financial speculation. A short-sighted dynamic,' Orsini continues.

'The energy decree is a first concrete step towards structural intervention. But here the issue is European: Brussels must put in place support measures for companies, as it did during Covid. And the time has come to really build the single energy market,' underlines the president of Confindustria.

'I have just returned from Spain: it is full of wind and photovoltaics, but we need quick concessions. It makes me smile who, in the Commission buildings, claims that the issue is still under control. By whom? With diesel at €2.30 per litre?". I will ask Brussels to 'act now. We need an act of responsibility from all EU countries. It is absurd to think that everyone can do it alone. I am a pro-European, but not of this Europe. I have the feeling that some governments think they can deal with the crisis on their own,' he adds.

"Germany has put 26 billion on the table to support businesses and reduce energy costs, and France has capped the price. Italia has done its homework, it is back in the Stability Pact, but we cannot accept a Europe that proceeds at different speeds'. "Do we need a loosening of the budget constraints? "Yes. We faced the Covid, then the war in Ukraine and now the Gulf shock. The EU needs to seriously consider a derogation from the Stability Pact to ease the pressure, support markets, businesses and households and maintain spending capacity. We are ready to do our part. But we also want Europe to act responsibly,' says Orsini.

According to Orsini, then, at this stage 'all we need is a tightening of rates. At this time we should, if anything, lower them: energy inflation will inevitably also have internal effects. This is the time for all of us to work together to build solutions, not to hypothesise a monetary squeeze, especially for a country like ours, with such a high level of debt'.