Martedì, 23 Ottobre 2018

Business leader calls on government to pay overdue bills


Varese, May 27 - The head of Italian
industrialists' association Confindustria called on Monday for
the Italian government to start paying off the public
administration's ballooning, overdue bills to relieve the credit
crunch strangling Italian businesses.
"We are in a precise and specific situation of credit
crunch. To relieve businesses, the first thing that should be
done is for the public administration to put its hands in its
pocket book and pay its own debts," said Giorgio Squinzi,
president of Confindustria.
"We have calculated that businesses have lost 50 billion
euros of credit over the last five years, but then Minister
Zanonato made a correction and spoke of 60 billion," Squinzi
added, making reference to Italian Economic Development Minister
Flavio Zanonato.
Squinzi also told of his "bafflement before the ex-economy
minister (Vittorio Grilli)" when asked for the total bill of
debts owed by public administration, "and we were given the
response that they were doing an inventory, and expected to be
furnished a complete picture in September".
"If you ask me, the latest numbers to emerge, of 130-140
billion, are very close to the reality," Squinzi added,
addressing an assembly of Confindustria members in the northern
Italian town of Busto Arsizio.
"A state that doesn't pay its own debts is not civilized.
These are not grants, but services rendered," Squinzi concluded.
Unblocking the public administration's payment of some 40
billion euros overdue to its suppliers was a goal set by the
former technical government led by Mario Monti.
Italy's former technical government said unblocking the
payments - a maneuver proposed for much-needed economic stimulus
in the recession-hit country - would raise Italy's 2013 budget
deficit to 2.9%.

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