The indications that our country will not be able to return to the markets in August are increasing.

Even without this increase in bad omens, however, it would not be difficult for one to see, as long as one possesses common sense, that a return to the markets was merely a chimera.

It was not difficult to understand – despite the contrary declarations of the government – that even a minor, unforeseen event would have been enough to trigger enormous suspicion in the already cautious markets.

That unforeseen event was as it turned out a major one: the Italian elections and the formation of a government comprised of populists and extreme right-wingers.

The maelstrom that this major event stirred appears to have rendered prohibitive a return to the markets in August, or even later, without a precautionary credit line.

The comforting thing is that the government has begun to accept reality, which it stubbornly refused to do until now.

The alarming thing is that it is attempting to transcend the political fallout, not with essential management of the problem, but rather with communications ploys. It is attempting to turn reality on its head, with the hope that it can dupe citizens once again.

There is no other path than the acceptance of the truth. The truth is the only way to build an honourable relationship between power and the citizenry. It is also the only way to address the crisis without extremely costly delusions.

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