Credit Suisse, Tremonti and the dig at Draghi: “The most serious mistake”
Giulio Tremonti analyze the issue of banking criseswhich culminated in the last week in the crash of the Silicon Valley Bank and in the near bankruptcy of the colossus Swiss creditsaved by the intervention of the historical rival Ubs and from the loan of Swiss bank. “The crisis of 2008 – ex-minister Tremonti explains to La Stampa – it is not never finished. We passed dall’austerity at the liquidity. With the result that the monetary mass is no longer accounted for billion in trillion and is worth three times global economic wealth. Today the situation is worse than 15 years ago. Nobody knows what’s going on, but the past already contains the future. The Bce I think it does a lot hard to understand the reality that it itself has created. Bankers ignore the strength of computer active in finance“.
“What we see now – continues Tremonti in La Stampa – is the product of a globalization too fast e without rules. Today we are closing a cycle that began 30 years ago between finance and geography. The ruling class seems to me a bit played and there Bce is slower to react than the speculators. But on the other hand, politics has disappeared to make room for technique. Just think of how many state leaders were at the forefront of applauding the handover between Mario Draghi e Christine Lagarde“. Tremonti also launches one dig a Draghi: “When he was president of the Fsb (financial stability board), he did not understand that the cause of crisis era economic. That was the biggest mistake“.
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