Giving an overview of the Italian economic situation today is quite a simple thing: we are in a deep crisis!
However, a few months ago a character has arrived on our political scene that has definitely caused intrigue abroad and we are all looking forward to see how he will act: Matteo Renzi.
Will he be like lots of his predecessors – a bluff?
Will he go on with promises for two years and then benefit his political retirement or will he be able to do something really good?
I’m not a member of the political party of which he is the leader, but I must say I’m curious about the programme called Unlock Italy he has proposed.
What is Unlock Italy? This is an approved law regarding measures for the construction industry, the food industry, for commercial industry and transport. The Prime Minister has announced that euro10 billion will be unlocked in 12 months for public works.
In particular, the measure provides 8 points:
- Unlock construction: bureaucratic simplification, increase in private investment in highway infrastructure and simplifying construction. These works will include railways, roads, works in large urban areas (Torino – passing railway and subway, Florence – tramway, Rome – metro, Naples – Metro), the airports of Malpensa, Venice, Genoa, Florence, Fiumicino, Salerno etc.
- Unlock areas: the municipalities have sent over 1.500 requests to the Chairman of the Board, which have been classified into three categories: (a) unlocking the “internal stability pact”, (b) request for funds for the completion of public works and (c) simplifying procedures. A procedure will be started to respond to the received requests for releasing the covenant and the financing of small works to be completed by 2014.
- Unlocks networks: in favour of the ultra-broadband operators who decide to invest in so-called “market failure areas” (areas where operators fail to bring the band to 100Megabit, which is exactly where Italy is in greater delay implementing the European Digital Agenda), there will be a tax credit worth 30% of the investment cost;
- Release bureaucracy: simplified procedures provided for minor constructions and reduction of cases in which landscaping permissions are required;
- Unlock building: simplifications of the procedures in case of renovations, tax cuts and “ecobonus” for upgrading the energy efficiency and seismic retrofitting of buildings;
- Unlocks export: launching a plan for the promotion of “Made in Italy” and the promotion of investments in Italy for more than 270 million euro from 2015 to 2017 plus the creation of a unique distinctive sign for the agro-food products Made in Italy, strengthening the tools to face the Italian sounding in the world;
- Unlock Bagnoli: this measure, was designed for the former industrial area of Bagnoli-Coroglio (NA), but could also be extended to other areas in the same situation, and tends to give a perspective of improvement and development of an area which has being historically criticised for the environmental and urban point of view;
- Unlock energy: measures that underline on one side the strategic nature of import infrastructure, processing and storage of gas, on the other one the value of national hydrocarbon deposits.
Renzi’s objective (or his dream), is for Italy to be among the first European countries and not among the last ones.
If he achieves the goal, the entire Italian economic situation will improve and there will be opportunities, even for trade credit insurance.
Let’s wait and see what happens*!
*At the present time we are still waiting for the official publication of the law.