Ho recentemente lanciato un'iniziativa su twitter, la Campagna contro le sciocchezze sull'Italia (#CAIN). Finora ho twittato in inglese, ma ora cercherò di renderla disponibile anche in italiano. Questo thread spiega perché penso che questa iniziativa sia necessaria /1
ll modo in cui giornalisti e politici scrivono e parlano dell'Italia e del Sud Europa è spesso distorto - specialmente nell'opinione pubblica "frugale". L'Italia non è il caso disperato dell'immaginario popolare. Il modo in cui si parla delle cose conta molto. /2
Questo è stato evidente nelle prime fasi della crisi COVID, quando i leader "frugali" hanno usato immagini distorte del Sud Europa per ridimensionare le sovvenzioni del recovery fund dell'UE. /3
Quando i "frugali" agiscono come "maestri" dell'Italia contribuiscono alle tensioni politiche. La fiducia tra i politici del Nord e del Sud Europa si è già deteriorata durante la crisi dell'euro. Dobbiamo migliorare le relazioni e costruire il consenso per la ripresa. /4
Ci sono dibattiti sulla formazione di un nuovo governo (Draghi come primo ministro?) e sulla spesa dei soldi della Next Generation EU. In questo contesto, leggo regolarmente commenti che non guardano al quadro delle politiche macro in modo differenziato. /5
L'Italia ha sicuramente anche problemi strutturali propri, che dovrebbero essere affrontati - quale paese non li ha? Ma se gli altri partner non smettono di trattare l'Italia come un caso disperato, anche loro perderanno molto. /6
Vengo dall'Austria, un paese il cui governo è orgoglioso di appartenere al campo dei "frugali". Il discorso politico sull'Italia e sulla politica economica europea è molto - diciamo - limitato qui. Mi sento in dovere di contribuire almeno un po' a migliorarlo. /7
L'Italia è un paese grande e sistematicamente importante. Se l'Italia dovesse lasciare l'eurozona, ci sarebbero effetti a catena sui mercati finanziari e conseguenze negative per tutti. L'Italia dovrebbe essere in grado di rimanere in un'eurozona riformata. /8
La mia esperienza è che i fatti di base sull'Italia e altri paesi dell'Europa meridionale sono spesso sconosciuti in Germania ecc. So che una piccola campagna su Twitter non cambierà il mondo, ma penso che valga la pena raggiungere persone di mentalità aperta e ragionevole. /9
So che non avete bisogno di qualcuno dall'Austria che vi faccia la morale. Non è questa la mia intenzione! Lo sto facendo in italiano come omaggio al vostro paese, e perché mi è stato detto da alcuni che potrebbe essere utile rendere questa raccolta disponibile in italiano #CAIN
Il mio italiano è scarso, grazie a @ilbuscemi per l'aiuto nella traduzione!
grazie anche a @nicola_doppio che ha aiutato molto!
Pubblicherò ulteriore materiale in italiano nei prossimi giorni. Spero che sia utile. #CAIN

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More from @heimbergecon

14 Feb
Campaign Against Italy Nonsense (#CAIN):

Here's a SUMMARY THREAD with seven stereotype-defying pieces of data about #Italy. The country is not a basket case. The dominant narrative is distorted, fuels resentment and leads to bad policy outcomes.

braveneweurope.com/philipp-heimbe… Image
1. Italians do not live beyond their means. Since 2012, Italy has been recording higher exports of goods and services than imports. The country consumes less than it produces – if anything, it lives below its means. Image
2. Private debt is relatively low in Italy compared to other OECD countries. Debt is not an issue for all sectors of the Italian economy. Image
Read 13 tweets
13 Feb
We’ve seen many misrepresentations of Italy. Now there’s the new #Draghi government – use the opportunity for a “New Southern Policy”! We wrote an article with data to debunk myths, and present ideas for moving forward. Thread #CAIN /1

braveneweurope.com/philipp-heimbe…
1.Due to Covid, Italy’s public debt has jumped to 160% of GDP. It’s important to understand why Italy's public debt was high already before Covid19: primarily as a legacy from the 1980s and 1990s, when interest rates on government bonds skyrocketed.
2.If we exclude the burden of interest payments, the Italian state is the world champion in running budget surpluses from the early 1990s up to Corona (“primary surpluses”). A lack of fiscal discipline locks different…
Read 22 tweets
12 Feb
As the announcement of the New Draghi government is approaching, here is a thread with a couple of thoughts why I think that political leaders in Europe should push for a "New Southern Policy". Bottom line: the EU as a whole would be stronger with a strengthened Italy /1 #CAIN
Italy certainly has significant structural problems, e.g. the banking sector, the North-South divide, organized crime or dysfunctional political elements. Other members also have their own problems. The question is: Under what conditions is Italy able to tackle such problems? /2
In this country of 60 million people, my reading of the political economy situation is that economic decline relative to other members over the last 20 years has been a breeding ground for fatalism rather than optimism. /3
Read 9 tweets
11 Feb
Campaign Against Italy Nonsense:

I receive comments such as: Ok, I get your data, but what can we do to make this work? A thread with ideas on achieving North-South convergence and making the €zone work for all countries /1

socialeurope.eu/keeping-the-pr…

#CAIN
In its current architecture, the eurozone is a web of glass—superficially stable, but brittle when subject to shocks. To avoid a break-up and render it resilient for the long term, the sources of this fragility must be identified and remedied. /2
The reasons for the €Z’s fragility are essentially political; technical solutions have been on the table for years. There is a lack of intergovernmental trust, especially in the North, and a lack of legitimacy in the eyes of the population, especially in the South. /3
Read 21 tweets
8 Feb
I receive pushback by mainstream voices in Italy: "Don't say that 🇮🇹 pushed for large fiscal consolidation already! Don't say that there were labour market deregulation measures, which have not worked magic. It's too radical!"

I think moderates should wake up. Thread /1

#CAIN
The monopoly for criticising economic policy should not be in the hands of radical voices. I think one of the reasons why we are where we are is that the "mainstream" has for too long remained silent and fallen in line with the fiscal consolidation/structural reforms mantra. /2
I think we should be honest and say: running large primary surpluses over 30 years has had serious economic and political side effects. We should not just say: let's double down and push even more after the COVID19 crisis. It will not work. /3
Read 5 tweets
7 Feb
Campaign Against Italy Nonsense #CAIN

This thread presents data that strongly reject claims that 🇮🇹's problem has been a lack of fiscal discipline.

Italy is the pre-Corona world champion of fiscal consolidation - with problems for investment, growth and debt sustainability /1
Many claim that Italy just didn't do enough fiscal consolidation to fix its public finances. In fact, fiscal consolidation in Italy was far more sizeable than in any other advanced country (from early 1990s up to financial crisis) - according to IMF data. /2
Due to Covid, Italy’s public debt has jumped to ~160% of GDP. It’s important to understand why Italy's public debt was high already before Corona: primarily because of the legacy of the 1980s and 1990s, when interest rates on government bonds skyrocketed. /3
Read 9 tweets

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