Last week there was a huge debate about Alitalia: after months with the illusion of a consortium composed by Atlantia and Ferrovie the government woke up with no offers presented.
Then what’s the solution?
According to Minister Patuanelli a new IRI, i.e. in his five stars (kind of socialist) mindset a nationalization of the company, would be the best one.
IRI is an institute born in 1933 and as Marcello Gualtieri recalls on Italia Oggi yesterday, at that time Mussolini was in power and Keynes had not yet published his “General Theory”. Worth less to say this position is quite surreal.
Other rumors, published by Sole24ore, say there will be an amendment on the Tax Decree in discussion now in the Finance Committee of the lower house, providing 400m loan to Alitalia in order to restructure the debt and discuss a partnership with Lufthansa whose management, always according to the press, was in Rome on Friday for meetings at the Ministry of Economic Development.
Tonight we will have a meeting of the Finance Committee about the tax decree but no amendments about Alitalia were actually tabled. So, no solution in sight.
Meanwhile, as cochairmam of the Economic Panel of the Parliamentary Assembly of the Mediterranean, I coorganized together with the Audit Firm BDO and the Merchant Bank Frigiolini and Partners, a seminar at the University of Enna in Sicily to explore the alternative capital channels to fund the growth of sme’s such as the issue of Mini bonds and IPO’s in the MTF like Aim Italia.
Entrepreneurs all over the country are willing to grow and a Government, any government, should provide a positive environment for companies and investors: transparency, fair taxation and rule of law just to mention some necessary conditions.
Unfortunately the current government with Atlantia, Alitalia, Ilva and its kind of socialist approach in taxation is showing colors that can mortify entrepreneurs and push away investors.
A change in mindset is needed at all levels.