Guardare il debito con lenti nuove

[Autom. eng. transl.] Are we really sure that the debt / GDP ratio is a correct indicator? Our answer is that it is not enough on its own to understand whether a public debt is sustainable or not, especially in the case of our country which, to its advantage, can exhibit the lowest household debt between the advanced countries and a stock of assets private among the highest in the world. This does not mean that Italy should not continue in the policy of rigor and reform. But other economic indicators should also be taken into account. The sustainability of the state accounts, and in particular of the Italian ones, would appear completely different if, to weigh the public debt, instead of GDP, the denominator was put, as we have been arguing for some time, the overall financial and real estate assets of families or even just that financial. But there is also another indicator of public debt sustainability that should be considered carefully and is the ratio between public debt and government revenues.