ECB: Casasco, GDP at stake, immediate interventions on expensive matters

(ANSA) - ROME, June 10 - "The ECB's move was very predictable: with inflation at 9% and after the announcement of the Fed an intervention on rates is inevitable. This involves a series of difficulties but inflation must be fought. What is fundamental, however, is that it is not enough to raise rates, it is necessary to intervene on structural costs and on the costs of raw materials: this is the real problem that grips small and medium-sized private industries ".

Thus the president of Confapi, Maurizio Casasco, comments with ANSA on the decisions announced yesterday by the ECB.

"This is what the productive capacity which then means producing GDP depends on".

    "We are facing very high inflation and the risk of recession. So we need structural interventions without hesitation: it is necessary to affect the cost of raw materials, first of all to insist on the price cup at the price of gas and then we must intervene in an incisive way on the extra-profits of companies, not as it is been done so far ".

"And the crux is not only that of gas but also that of steel: the battle is to remove the safeguard clauses on steel." If no action is taken on these fronts ", Casasco underlines" speculative moves are favored that cause a reduction in GDP and an increase inflation while we must instead try to increase production and encourage the growth of GDP ". (ANSA).