Tuesday, September 28, 2021
HomeUncategorizedCoronavirus, Patuelli (Abi): banks will guarantee liquidity to businesses

Coronavirus, Patuelli (Abi): banks will guarantee liquidity to businesses

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Banking unions ask to close branches for 15 days. How does the Abi president, Antonio Patuelli respond? «We did not decide to guarantee banking services but the government, deciding which activities to close. We make an infinite effort to increase prevention but by law we must remain functional. On Monday night a very important agreement was signed between Abi and the secretaries of the trade union confederations, a protocol that established a series of fixed points for the prevention and fight against Coronavirus that can be clearly expanded by each bank. So it's a lowest common denominator. Each bank can cut schedules, keep customers away. “

«We have appealed to citizens: don't go to the bank, call if you need anything, use ATMs. But do you know what is happening these days, and what is escaping the national news? Banks are subject to an attack by the underworld that detonates ATMs at night to rob them. So they wreak havoc on branches, they are terrible looting at a time when people are trying to convince people to use those automatic tools ».

Do government interventions on credit, with guarantees, satisfy it?

“We must save customers from the risk of crisis, so we save the productive economy. First of all – using a private law institution – we have arranged the moratoriums, in agreement with the trade associations, Confindustria, Confcommercio, all the others. For guarantees, I await the text of the decree. But Europe needs to move. The rigid rules of the Banking Union responded to a financial crisis, that of 2008-2011 but in a few days, faced with a telluric movement such as that triggered by the health crisis, the logical ones became anachronistic. State aid is essential in times of emergency, for businesses and individuals. Commissioner Margrethe Vestager, the strictest priestess of the state aid ban, is also questioning the rules. “

«The liquidity introduced is an asset, even if it has not reached the levels of Draghi. The ECB supervision led by Andrea Enria has launched important changes to give banks more flexibility in managing loans. But if the productive sectors are blocked in the EU, the demand for liquidity will slow down. And if businesses don't ask for it, we can't force it. For this reason we ask to give companies the possibility of not being restricted in links that are too rigid for access to credit, and on the other that hips are not subjected to such a shortened calendar, as it has been in recent years, to evaluate the deterioration of credits. Because this accentuates the crisis, rather than preventing or facing it ».

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