FVG FINE: BUT LET'S NOT ALWAYS EXPECT GODSENDOM FROM THE SKY

29/03/2020

We learn today from Il Friuli, that our region ranks first in the special classification that analyses the percentage of citizens who respect the rules (in this case quarantine). Yes, you understand correctly, we are among those who spend the most time at home.

As said, Friuli-Venezia Giulia is a virtuous region, but certainly not only from this point of view. Also in other, much more important rankings, the Region ranks among the very first places in Italy, let us specify in Italy - an important thing. These include the quality of public administration (PA), the innovation of local businesses and the sustainability of public debt of the Region itself. The region can also be considered in line with the national average in terms of the general rate of digitization.

An important note should be made about regional public debt, a local debt that for now can boast of a good rating expressed by the American agency Fitch. This agency gives regional public finances a good A- (7- in school jargon), underlining their good management. In addition, the study shows that these good data are mainly the result of regional autonomy, combined with a great deal of private wealth that families hold. Yes, the families of the FVG hold on average a heritage of almost 160,000 euros per core, a very important data that places us, together with the whole country, among the very first countries in Europe and in the world.

Nevertheless, we must also be able to see the potential downside of things. Too easy, in fact, to read only what is convenient. These rankings, although good, are far from the best world benchmarks. Why is that? Well, you can easily explain it by reading the numbers, numbers that are sometimes merciless.

The "quality" of the regional PA, combined with the general rate of digitization, where we are among the first in Italy, tells us that we are still too far from the main European competitors. In this context, our region, together with almost all of the North to be precise, ranks just over 100th among the most virtuous regions in Europe. These are real numbers, based on standard methodologies, which confirm the poorness of the Italian PA in general, combined with an almost disarming digital backwardness.

In addition, the family net worth, despite being very large, is definitely poorly distributed. Those in the business will know that Italians in general hold too many properties (houses, land, etc.), keep too much liquidity in current accounts - "or under the bed" (both highly discouraged), while they still invest too little, or if they do, they do so by relying on the wrong people. We give you advice as friends, NEVER invest too much in a single share. By doing so, you are too exposed and you can lose everything - a situation similar to the Social-People's Banks crack a few years ago. Be careful and inquire individually before investing, and be wary of those who try to trick you by catching the hypothetical financial unpreparedness.

To sum up, this region is a good region, but to continue to be a so, it must look to the future. We, therefore, appeal to the regional and municipal administrators, so that they can understand the need to invest more in the aforementioned categories, and at the same time try to stem waste and too many public-bureaucratic inefficiencies.

Finally, we also appeal to the population itself, a population that can, and must, try to do more. We refer, of course, to the still limited digital and financial skills, limitations which, as said, have a major impact on the quality of life in the 21st century. We, accordingly, call on the citizens to do this without waiting for the godsend to come from heaven. Come on, we are neither Moses nor are we on a pilgrimage to Egypt, more precisely to the Sinai region!

Martin Novak - Gorizia3.0