Thus Larry Fink, CEO of BlackRock, commented on the debt levels of the euro area (but also of the USA), starting with those of Italy and Spain, during an interview with Federico Fubini, published today in Il Corriere della Sera.
“I am very worried about the relationship between debt and gross product (or GDP gross domestic product) in all countries. Including mine, the United States. Let’s be honest: deficits will one day matter. They are not counting now as much as they should. But let’s forget the budget problems for a moment: in the end we have to create growth, only in this way can we get rid of the deficits ”.
The CEO of the world‘s number one asset management giant recalled that “the debt in relation to GDP in Italy, Spain or the United States and Japan will fall on our children and grandchildren. The problem is that politicians do not focus on the long run, but on how to solve today. We need leaders who start focusing on building tomorrow, instead there is an increase in populism and extremism. Looking at the Italian elections, I saw all the candidates go to the center and a kind of mixed bag was created. In the United States, unfortunately, the voices heard are increasingly from the far right and far left. The center is being lost ”.