While France (+0.3%), Germany (+0.3%) and Japan (+0.6%), they begin the recovery of GDP, Italy not only lost in the second quarter of 2009 domestic product (-0.5%), but the large public debt, the confidence of investors and the financial situation you are uncertain that the BOT, the cornerstone of the safe investments of the year 60-70-80, count as waste paper, even less.
The current rent is 0.32% which, after deduction of bank charges for the purchase brings the value of the Title of State -0.08%.
Translated: up to € 10,000 for 32 licenses have interest income and expenses for 40 €.
If the bonds are now reduced to waste paper I wonder what are the chances for Italy to get out of this grave crisis affecting our country. There is talk of slight recovery of GDP in 2010 and the recovery of consumption (at the period from 2001 to 2007) in 2011 but the question I ask myself is, Italian companies will be able to arrive at those dates?
If serious economic reforms will be implemented if the banks will not give credit to worthy companies if confidence in the Italian foreign countries will continue to fall I greatly fear for the recovery from recession.
Luke Purse, an Italian
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