Let’s hope that no one in Berlin reads the sovereign nonsense about debt and Pnrr

We have to hope that in Germany, Austria or Holland they are distracted by internal issues: that no one, up there among the frugal Nordics, reads the declarations of the leaders of the center-right these days, those for which “the loans from the Pnrr are too many, we risk not spending them, therefore it is better to pay them back”. We must hope that they do not read them, it was said, because otherwise the theorists of rigor would find confirmation of their historical convictions: that it is useless, indeed harmful, to loosen budget constraints, grant fiscal space to the Mediterranean countries, because they would not know what to do , and indeed would increase their public debt. Ah, these Italians: for decades asking for Eurobonds, debt mutualisation, a whole string of complaints about a Europe that is not very expansive, not Keynesian, and then to the point, when the turning point really comes, when the money of all Europeans is given to Rome, Rome wants to send it back because it doesn’t know what to do about it.