PRESS REVIEW – Sure plan, Zani: “To balance US aid plan good proposal Charles Michel”
25 January 2023
(Teleborsa) – “The proposal by EU Council President Charles Michel to extend the Sure mechanism to respond to the Inflation Reduction Act (IRA) launched by Biden, which is triggering a major imbalance on global markets in terms of the internal competitiveness of states to the advantage of US companies, goods and services, is certainly going in the right direction”. This is what Moreno Zani, president of Tendercapital, one of the independent international players active in the asset management sector, said in a note on the proposal by EU Council President Michel to adopt a new Sure plan for member states.
“The Sure mechanism, conceived under pandemic conditions,” Zani continues, “could be the economic key to relaunching growth and supporting the member states, which, as Michel specified, do not all have the same financial capacity or strength. The use of this instrument,’ he adds, ‘would guarantee market stability, giving all economic and financial competitors equal rights by protecting their respective economic and social needs. For those who work in global finance,’ concludes Tendercapital’s president, ‘to be able to count on a common European fund designed to support and give strength to the different EU economies would be a tangible response to the call for solidarity in Europe, which, like the pandemic, needs virtuous instruments to compete with equal dignity to the $400 billion state aid package financed by Biden’.