For the moment, even if the exportations - already too few - are affected by the accumulation of huge stocks, imports appear to soar, the crowded commercial centers showing there’s no worry among consumers. But with a local consumption financed on credit, the economical downturn is only delayed, by no chance avoided. And the downturn might be so severe, that this year oil shock will seem like a small hiccup.
Beyond this dark book that threatens with a slowing growth, if not with an economic forced landing, there are also gladding prospects, such as the announced measures to support the automotive industry. However, only the temporary suspension of the pollution tax cannot be considered more than a drop in a sea. Unfortunately, we cannot expect much immediate measures, both because of the electoral euphoria and because of the possible delaying in taking hasty decisions under the pretext of breaching European rules on state aid.
If not for more help, it would suffice if the Government complied with their commitment not to increase wages. Contrarily, investments in 2009 will be history. Transporters’ fate depends to some extent on how and what will be done with public money: only for transport infrastructure there are more than five billion euros waiting to be spent since 2007. The construction sites, which will be opened to consume this money, could be fueled by transporters that otherwise would risk to close their businesses because of the crisis.
