Covid-19

After the crisis year of 2020, the next 12 months will decide if Italy can get its economy, financial system and public finances under control again.

In a year of bad news, the past few weeks were a welcome exception.

Enjoy the relatively positive economic data while it lasts. But do not believe for a second it is sustainable.

Though shovel-ready, current government projects are just as useful as building pyramids, burying banknotes and creating earthquakes. It is not what Keynes had in mind, but it is the best his disciples can come up with these days.

Though it is tough to reliably forecast what Covid-19 will do to key economic indicators over the coming years, the true legacy of Covid-19 will be for the Government to occupy the commanding heights of the economy once again. And make everyone poorer.

To avoid creating ghost towns, we must find a way of saving lives without destroying the cities they inhabit.

Europe has left the early stage of the pandemic behind. With more information at hand, European countries are managing Covid-19 in a controlled way. It is a step towards normality on a long road ahead.

It is good to see some policy thinking from the opposition. The Government should engage with these ideas and build on the proposals. It can only improve its border management.