(ANSA) - MILAN, JUNE 09 - "Inflation is like a Hydra with many heads; If one is cut and cauterized, the others act" and "high inflation also creates the conditions for the formation of democracy and the emergence of forms of social violence". This is the alarm launched by the president of Consob, Paolo Savona, in his speech to the financial market.
"Increases in the cost of living have been transmitted to taxation, but not to wages, which have so far shown greater rigidity. Financial wealth continues to experience a severe impoverishment of its real value," he added.
Moreover, "it is therefore urgent to reconsider how to realign burdens and regulations, including fiscal ones, between the different forms of investment of savings, healing distortions stratified over time and counteracting the distributive inequity that they determine". (ANSA).
Savona, 'inflation impoverishes, risks for democracy'
2023-06-09T09:41:49.646Z
Highlights: "High inflation also creates the conditions for a deformation of democracy and the emergence of forms of social violence" This is the alarm launched by the president of Consob, Paolo Savona, in his speech to the financial market. "Financial wealth continues to experience a severe impoverishment of its real value," he added. "It is therefore urgent to reconsider how to realign burdens and regulations, including fiscal ones, between the different forms of investment of savings, healing distortions over time and counteracting the distributive inequity"
"Inflation is like a many-headed Hydra; If one is cut and cauterized, the others act" and "high inflation also creates the conditions for a deformation of democracy and the emergence of forms of social violence". (ANSA)
