Draghi: peak global recovery, now more investments and fewer forms of subsidies

• G7, the summit is underway.

  Johnson: "Opportunity to get out of the misery of the pandemic"

• G7 leaders will ask WHO for a new investigation into the origins of the coronavirus

• G7 in Cornwall, the first in attendance since the pandemic.

  Journalists kept at a distance

• G7 in London, finance ministers reach historic agreement on global taxation

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11 June 2021 The policies adopted in the middle of the Covid-19 pandemic were found to be correct. An expansionary policy is needed to strengthen economic growth, protect workers and ensure the sustainability of public finances. In this way, Prime Minister Mario Draghi, at the G7 summit in Cornwall, represented the current economic situation after the acute Coronavirus phase. "This is a good period for the world economy. The recovery has had a strong peak and the policies implemented during the most acute phase of the pandemic have proved to be correct" said the Prime Minister Draghi during his speech, opening the first session of the G7, dedicated to economic recovery.

"We have focused on support measures aimed at businesses and people. Now we are focusing more and more on investment spending and less on subsidies," he added. Furthermore, "there are excellent reasons for having an expansionary budget policy" said Prime Minister Draghi, according to what has been learned because this serves to "strengthen growth and protect workers during the transitions that the economy is going through".

Economic growth in direct relation to the sustainability of public finances and the need to maintain a prudent fiscal policy to reassure investors is another aspect that Prime Minister Draghi underlined: "Economic growth is today the best way to ensure sustainability. of public accounts "adding that it is necessary to maintain" a prudent fiscal policy framework "in the long term, to" reassure investors and avoid restrictive policies by central banks ". 

We must also not forget social cohesion, considered a moral duty, with active employment policies to help the weak, with a boost to young people and women: "In the past, during the other crises, in our countries we forgot about social cohesion" , but now "it is a moral duty" to demand a change of pace, to act differently must be an imperative "said Prime Minister Mario Draghi at the G7 meeting in Cornwall. Draghi called on the leaders to manage this phase of recovery in a manner that different from previous crises by emphasizing the importance of active labor policies to help the weakest, especially women and young people.

Prime Minister Mario Draghi, together with German Chancellor Angela Merkel and US President Joe Biden, introduced the G7 session on the economy. "Mario, I remember being in a seminar a few years ago where you saved the euro in the middle of a crisis with a sentence - premier Johnson presented it - now give us your perspective".

Reassuring the markets by keeping debt under control was the line of economic policy illustrated by Prime Minister Mario Draghi in the first working session of the G7 in Cornwall. This line found all the leaders present in agreement. Angela Merkel also spoke of the "complete cultural change" that took place in Germany, and of the need to invest in digitization, also focusing on strategies to combat climate change. "I want to invest, I want to get projects started", said British Prime Minister Boris Johnson, agreeing with Draghi on the importance of reassuring the markets of the common will to keep debt under control.