San Marino. Repubblica Futura: “Fitch’s report and the government’s secrets”
“The downgrading of the rating of our country by Fitch is only the latest and macroscopic sign of alert that comes loud and clear to the government, the majority and, unfortunately, also to all San Marino citizens”.
Repubblica Futura intervenes with a reflection on the latest Fitch report which lowered the rating of the Titan from BB + to BB.
“The will that Repubblica Futura had highlighted on several occasions has been constantly downplayed by the Government. The entire economic and financial policy of the country in these almost three years, since the new executive took office, has been cloaked in secrecy. Some examples: the loan of 150 million under contract with Cargill, almost alone by Secretary Gatti (it seems that neither the Congress of State has seen the contract!); the so-called “NPL project”, which should serve to manage the non-performing loans of the San Marino banking system, between accelerations and long stops, has been approved for a year, with great opposition from the opposition for some strategic choices, and to date it is not clear however, what results and what applications should they have.
In short, only a few people, in the secret of some study or some secretariat of state, make capital decisions for the future of all of us.
Again: Cassa di Risparmio, on the future of which it has not been possible to know in a shred of company piano with some projections on what will happen in the coming years. The disaster of BNS or Banca-CIS, what we called the San Marino bail-in (even taking a threat of denunciation from the President of Central Bank Catia Tomasetti), which saw the death, if not linked to CIS account holders with savings blocked and the possibility of seeing them again maybe in 10 years. The total secret on the government’s energy emergency management plan, so much so that in many secrets about it now does not exist … The situation of the accounts of the Services Company, on which a deafening silence has fallen, and which probably will hole bigger than the 5 million that the government told Fitch.
In short, we are in the eye of the storm, of the perfect storm, and no one, except a select few who run the country, has the information. If someone tries to look for the news, to inform the San Marino citizens and to clarify a bit, they are denounced or intimidated, as happened to the newspaper L’Informazione (to which all of ours and – we believe – not only ours) go had the honor of being the complaint both of the Government and of Catia Tomasetti Central Bank, which is evidently using public money for these activities.
Faced with this terrifying total picture, of intimidation and public finances precariousness, Repubblica Futura will ask that in the next Council it be inserted in a specific paragraph with the reference of the Secretary of Finance on the Fitch report and more generally on the NPL project, on the sustainability of the accounts public, situation on the debt situation and the stability of state structures, such as AASS, in the immediate future.
It is time, after three years, for the government to come out into the open, to make all San Marino citizens aware of what it has done and what we must expect ”.