The government tries to revive the Bank of the south, which was created in 2009 by the then minister of Economy, Giulio Tremonti with big ambitions, remained in the good part of these. The Bank, the heir of the Mediocredito centrale, gave a little credit to the large group (small firms) and loans to employees of the post office behind the sale of the fifth. Yesterday, the board of directors of Poste, who had bought in 2011, has authorized the sale to Invitalia, the Agency for inward investment promotion and enterprise development of the ministry of the Economy.
A decision supported by the government. Why?
“Because,” answered the minister for the Mezzogiorno, Claudio De Vincenti — irrobustirà for the promotion and attraction of investments in the South.”
so Far, the Bank has disappointed.
“The Bank of the south is a positive reality with potential still untapped. He very well managed the central guarantee Fund for loans to Smes, which have triggered 14 billion euros of investment, while it has developed in an insufficient manner the activities of credit, with approximately 2 billion disbursed, and to support strategic investments. The link with Invitalia will strengthen these two action fronts”.
Exit from the post office, the Bank will have a branch network?
“it is Not necessary. The credit to enterprises and support for investments can be carried out, as well as “second level bank”
Invitalia will spend for the acquisition of the Bank about 370 million. Money well spent?
“On the value of the transaction I commit myself to the evaluations of the board of directors of post and Invitalia. Certainly money well spent, for the reasons I have said to you.”
they were presented questions that critics of the sale by private negotiation, and the fact that Invitalia is not a trader or bank.
“Invitalia, as Posed, is not an operator bank, and then shall present the application for authorisation to the Bank of Italy. As to the mode of the assignment, there is no need of the procedure of public evidence, because it is a transfer between a company mainly owned by the State”
There will be changes in governance?
“it Is too early to talk about it”.
If the Bank of the south becomes the bank of Invitalia in the intermediation of public funds to support businesses and the economy of the South, this does not affect the competition with other credit institutions?
“no, Absolutely not. The Bank, which, however, is of the second level, will have to operate according to the criteria of the market, and where her action is synonymous with public incentives, he will make it according to the rules which are also “other financial intermediaries”.
the Minister, yesterday, the Chamber approved the decree-law on the Mezzogiorno, which contains the new tax credit. How will that work?
“We have raised the percentage of the benefit to 45% of the investment for small enterprises, 35% for medium and 25% for large. And were increased to the limits: from 1,5 to 3 million euros for small and 5 to 10 million to medium-sized. The credit moreover, as compared to the past, applies without deducting the depreciation on previous investments. There are 600 million euros a year until 2018, thanks to the leverage effect, can support the investments of around eur 1.7 billion the year”.
Yesterday the Chamber said that the government is thinking of the special economic zones. What is that?
“we’re dialoguing with the european Commission to define the characteristics and the instrumentation. For now, I can’t say more.”
In recent months, he has visited many areas of the South. That idea has been made?
“the South is decisive for the restart of the Country. I have seen that the effort of the government is shared by local institutions. And after the first results of 2015, with an increase of the Gdp in the Mezzogiorno of the’top 1% and 0.8% of the national average, and employment growth is also greater, I believe that in 2016 we will have the confirmation of the resumption, and that the 2017 will be the year of the turn”.
With the 2014-2020 programming how much money there is available? And how much we have spent so far?
“There are about 31 billion euros of european funds, and 75 billion of national funds. We have already activated at least 26% of the 52 billion of the structural funds, co-financed at 40% by national resources”
With these funds, you could build the bridge over the strait? She is in favour of?
“It could be. I am in favour of the bridge, which will serve to complete a system of infrastructure in Sicily and on the continent adequately improved.”
Minister, the elections in 2018 or soon?
“The government works in the same way, whatever the date of the vote, as the president has said Gentiloni is not available to the government. Depends on the head of the State and of the dialectic between the political forces”.
Is coming in the manovrina 3.4 billion. But it is worrisome especially for the year 2018: it will take 20 billion to the safeguard clauses. Looms a sting.
“No, there will not be any need to, because the budget is already under control, in full respect of the european rules”.
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8 February 2017 (edit on February 9, 2017 | 07:47)
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