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“The recent implementing decree PNRR (National Recovery and Resilience Plan) with the hiring of 2,800 recent graduates to be placed in regions to tackle the Recovery Fund Plan: yet another epilogue of a failed methodology in terms of efficiency on Community resources. Italy, wake up!” – This is how economist Prof. Santi Tomaselli opens the interview.<\/p>\n\n\n\n
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Prof. Santi Tomaselli, thanking you for accepting to give an interview for our BLOG, your opening statement is strong. Please explain it better.<\/p>\n\n\n\n
As my scientific studies are animated by the perpetual desire to find scientific solutions to reverse the negative trend that has characterized our country for over 20 years in the management of European Funds<\/strong>, instead of falling into sterile accusations against one government compared to another, when I read the recent news of the imminent hiring of 2,800 recent graduates to be placed in Public Administrations to support the complex management of the Recovery Fund (which has a historic endowment of approximately 209 billion euros), my first feeling was one of total dismay!<\/p>\n\n\n\n The great Indro Montanelli asserted that one of the main problems of our country is that it lacks historical memory, without which our present falters and, above all, it is impossible to build the foundations for a better future. In recalling the words of Montanelli, I remember some passages from the recent past that have branded our country as one of the worst in the management of European Funds<\/strong>.<\/p>\n\n\n\n Let us take the example of the management of a single European Fund: the ESF (European Social Fund<\/strong>). Do you know how old it is? The ESF is 60 years old and it is the main instrument used by Europe to promote employment and social integration. It helps people find a job (or a better job if they already have one), promoting the integration of disadvantaged subjects into society and ensuring more equitable living opportunities for everyone.<\/p>\n\n\n\n To this end, it invests in European citizens and their skills, whether they are employed or unemployed, young or old. Among the main objectives for which this wonderful community instrument was conceived, I must emphasize that of “Preventing excessive macroeconomic imbalances in the EU by supporting the least developed regions.”<\/p>\n\n\n\n In the last 30 years, Italy has been so unsuccessful in managing European Funds, including the European Social Fund<\/strong>, that incontrovertible data (source: Eurostat) tell us how the governments of our country, without doing wrong to anyone, from right to left, have committed themselves to neutralizing the noble objective of the ESF in preventing excessive macroeconomic imbalances in the EU for our regions in southern Italy.<\/p>\n\n\n\n In the last 30 years, in fact, as I deliberately repeat in all my interventions with the aim that, sooner or later, even those who pretend not to hear will necessarily be bored by my pounding “disc”, Italy has managed the various European Programmes so superficially (which have an average duration of seven years) that, arriving at the present day, the results have been merciless.<\/p>\n\n\n\n Even today, despite the opportunities offered by this strategic community resource in the fight against economic and social divergences, among the different regions of Europe, we witness the shameful photograph that not only in southern Italy, after 30 years of European Programmes, regions such as Sicily, Calabria, Basilicata, Puglia and Campania remain in an absolute social discomfort, labeled as Ex Objective 1 or Ultra-Peripheral Regions, with a shameful average GDP per capita lower than 75% of the European average GDP per capita, but others have been added to these.<\/p>\n\n\n\n Indeed, Sardinia and Molise, which previously enjoyed a better economic state, are now being dragged into the oblivion of less developed regions, also due to the inefficient use of European Funds, negatively increasing the already numerous ranks of ex-Objective 1 regions or ultra-peripheral regions.<\/p>\n\n\n\n Unfortunately, realistic perspectives tell us that, in the absence of a scientific methodology, regions such as Abruzzo, Marche, and Umbria, which have already been relegated from the club of the wealthiest regions to the less prestigious one of those “in transition,” will also fall into this status of economic-social oblivion.<\/p>\n\n\n\n This would color our country with a “default red,” not only in the South of Italy but also in strategic areas of Central Italy. An unbearable shame!<\/p>\n\n\n\n <\/p>\n\n\n\n In Prof. Santi Tomaselli’s recipe for solutions, You must say that he is the first European Funds Economist in Italy to describe the need to create a real “Infrastructure on European Funds Management,” which would indirectly involve the central theme of our Blog, namely Cryptocurrencies. Can you explain better since it surely offers an innovative vision of development?<\/p>\n\n\n\n Allow me to present a scientific reflection on how we arrive at the design of the Infrastructure on the management of European Funds<\/strong>, starting from the data.<\/p>\n\n\n\n I remind the readers of Your Blog that the pulsating heart of every European programming is the cohesion policy.<\/p>\n\n\n\n Cohesion policy is the main investment policy of the European Union. It offers benefits to all regions and cities of the EU and supports economic growth, job creation, business competitiveness, sustainable development, and environmental protection (Articles 174 to 178 of the Treaty on the Functioning of the European Union TFUE).<\/p>\n\n\n\n If, for over thirty years of European Programming since that distant 1988 of the Delors Plan, we had not repeatedly read the same broken record, such as the one reported also in the New Programming (i.e., “that within the 2021-2027 period, the cohesion policy will be aimed, once again, at reducing the economic divergences of the less developed regions within the Eurozone”), we would exclaim: “Finally, we are on the right track!”<\/p>\n\n\n\n For over 30 years, in the drafting of various programming, a cohesion policy has been proposed, mainly aimed at reducing the gap between ex-Objective 1 regions and the more developed ones.<\/p>\n\n\n\n Once I read: when a good fisherman is in a sea full of fish and cannot catch even one, realizing that the cause of such a meager catch is not due to his boat or his tools, he changes the bait directly!<\/p>\n\n\n\n When in the New Programming 2021-2027, we read that the cohesion policy will be increasingly close to the objectives of local issues of the regions, the natural answer is: “Why was it not always said in previous European programming?”<\/p>\n\n\n\n What results have been achieved? The regions of Southern Italy still today, in April 2021, are labeled as ex-Objective 1 regions, translated with a per capita income lower than 75% of the European per capita income average, with unemployment levels exceeding 57%, Third World data.<\/p>\n\n\n\n An unbearable shame! Well, but Italy, “before the pandemic was growing,” someone might say! A false and surreal answer. Data is the best photograph to bring the comparison, in my opinion, to an inopinable scientific level. Italy, even before the dramatic Covid-19 pandemic, was experiencing secular stagnation, translated: almost zero growth.<\/p>\n\n\n\n Let’s first look at the list of countries that have been analyzed in terms of GDP growth rate in 2020: the data shows that out of 23 countries internationally, Italy is second to last, behind only Greece which has already been devastated by the previous austerity policies dictated by the Troika (European Commission-ECB-International Monetary Fund).<\/p>\n\n\n\n Countries such as Vietnam, India, China, South Korea, Saudi Arabia, Nigeria, Hong Kong, Japan, Brazil, Russia, South Africa, the United States, Canada, the United Kingdom, Mexico, Germany, Austria, France, the Netherlands, Spain, Portugal, Italy, and Greece were analyzed. I would like to clarify that the order of the country names is not random, but was based on the GDP growth rate.<\/p>\n\n\n\n Translated, out of 23 countries internationally, Italy is:<\/p>\n\n\n\n Second to last in terms of growth in the specific case Second in terms of dramatic stagnation Despite having had over \u20ac350 billion in Structural Funds available over the past 30 years, not to mention the over \u20ac5 trillion in Direct European Funds, our country arrives at 2020 with yet another merciless “negative record.”<\/p>\n\n\n\n Dear reader, the economy of European Funds coined by the author after years of scientific studies and represented in the just completed (over 800 pages) manual soon to be published, is not a legendary invention but can be considered as that vaccine at least aimed at restoring dignity to the intrinsic additional development genesis in the Community Funds.<\/p>\n\n\n\n If real structural growth had been created as proposed by some “rulers,” at most we would have witnessed periods of contingent recession within a circumscribed time frame, a factor that has never happened in our country in recent decades.<\/p>\n\n\n\n Therefore, the growth that some have mystified is not real because it is not consolidated, but the result of a time frame grasping at contingent rather than structural measures (the thesis of more authoritative Nobel economists than the author).<\/p>\n\n\n\n Provocatively, the author does not exempt himself from defining the management of European Funds<\/strong> in a secular stagnation phase in terms of inefficient use. In light of what has been stated, also with the help of data, the scientific denunciation is understood that, without a methodology, even in the era of the Recovery Fund despite the good intentions of a more cohesive policy closer to the Regions, based on objectives, especially those of Southern Italy, the epilogue will be an announced failure. To support the thesis that I represent, I always use raw but undeniable data.<\/p>\n\n\n\n The Financial Times recently provided yet another confirmation of how the use of additional development of European Funds has been completely trampled upon by the country of Italy without a scientific methodology, with the exception of Germany, similar to other countries in the Eurozone.<\/p>\n\n\n\n During the European Programming 2007-2013, which outlined the same fairy-tale proposals of a policy of cohesion closer to the Regions that are more fragile from an Economic-Social perspective, as is being proposed in the New Programming 2021-2027, the GDP growth rate data is reported and how impetuous the use of additional development of structural funds was during the same period (a budget of almost \u20ac80 billion in the period 2007-2013).<\/p>\n\n\n\n <\/p>\n\n\n\n Recapping, in the period 2007-2013, Switzerland ranked first in Gross Domestic Product growth with a +8.2%, followed by China with a +7.6%, then Sweden with a +6.2%, followed by the United States with a +5.9%, then Germany with a +4.2%, France with a +0.2%, followed by Great Britain with a -1.2%, Portugal with a -6.7%, and finally, Italy with a -8.5%, preceded only by the disastrous Greece with a dramatic -23.7%.<\/p>\n\n\n\n Therefore, in the same period, when 99% of Italy\u2019s regions were boasting of a 99% certification on European funds, during the 2007-2013 Programming, the beautiful country recorded a decline in GDP growth of minus 8.5%. In other words, the management of European Funds<\/strong> was entirely bankrupt!<\/p>\n\n\n\n If it is true that science is the fruit of overcoming failures detected by reality through methodologies, and if it is true that social-economic progress of our civilization is built on this, it can be asserted that the economy on European Funds, despite its complex articulation in which the process of perfection will never cease, is undoubtedly the scientific response to reverse a trend on the management of European Funds<\/strong> that defining it as a failure is a reductive euphemism.<\/p>\n\n\n\n Now the legitimate question that even an economics neophyte would ask is if, in these last decades, despite the \u201cvirtual\u201d high certifications (see the Ripple Effect), the impact on our economy has been entirely bankrupt.<\/p>\n\n\n\n What science fiction spirit could believe that 2,800 inexperienced new graduates could reverse a negative trend on such a complex matter as the \u201csystem\u201d of European Funds?<\/p>\n\n\n\n In the manual, with scientific authority, I propose a real structural reform with the creation of a resolutive \u201cInfrastructure of European Funds\u201d based on a simple question: are European Funds money? Answer: yes!<\/p>\n\n\n\n Perhaps it is time to create European Offices, coordinated by economists in the field of European Funds (and not by new graduates, as is being done without any scientific logic. If anything, they need to be trained to bring seriousness to the subject at hand) within all actors that provide money, including banking institutions and\/or Cryptocurrency platforms, so that according to models that you will read in the manual of Economics on European Funds (written with passion by the speaker), financial levers of structured finance can be harmonized with the financial levers of European Funds.<\/p>\n\n\n\n I conclude the interview by thanking your Blog and your readers, with the intention of having sparked a glimmer of hope that the scandal of the American Sub Prime derivatives of the distant July 2007, with the disastrous consequences it has brought to the international economic scenario, should suggest that speculative finance must make room for the finance of the real economy, otherwise, the outcome will be a mass extinction of the Italian productive fabric of our SMEs.<\/p>\n\n\n\n Without a scientific methodology like the one proposed by Economics on European Funds, in which, for the first time, a real infrastructure is created, Banks-Cryptocurrency platforms-European Funds aimed at impacting the economic growth of the recipient territories, the result will be a foregone failure.<\/p>\n\n\n\n You will see that by the end of the Next Generation in 2030, we will be forced to comment on yet another inefficiency in the use of European Funds, just as we have been forced to note for all previous programming related to the efficiency of Community Funds. And at that point, wanting to use the same language as the renowned economist Alan S. Blinder, \u201cTHE MUSIC IS STOPPED\u201d\u2026<\/p>\n","protected":false},"excerpt":{"rendered":" Introduction. “The recent implementing decree PNRR (National Recovery and Resilience Plan) with the hiring of 2,800 recent graduates to be placed in regions to tackle the Recovery Fund Plan: yet another epilogue of a failed methodology in terms of efficiency on Community resources. 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Analysis of the data<\/h2>\n\n\n\n