Zero Interest Mortgages: A Loan to Laugh At?
Gather ’round, folks! We’ve got a tale that’s juicier than a slice of watermelon at a summer picnic! Picture this: the Aosta Valley—a place so picturesque, it makes your Instagram look mediocre. But alas, nature played a cruel joke and decided to flood the place! Back on June 29-30, the floods arrived, leaving behind a wake of destruction in Cogne and Breuil-Cervinia, the sort of damage that makes even the sturdiest Swiss chalet quiver in its timber.
Now, how do local leaders respond to this water-induced mayhem? It’s not gods sending down refreshments—no, no! Instead, we’re blessed with the “heaven-sent” proposal of zero interest mortgages. Oh yes, that’s right, folks! It might sound like the latest hipster coffee shop on the corner but it’s just the Valle Region proposing loans for businesses affected by the floods. Seems a bit odd, doesn’t it? But hold onto your hats; this is only the beginning of a drama that could rival any reality TV show!
Our protagonist in this debacle? The ever-controversial regional council! Representing the completely sensible—for local government standards at least—Pierluigi Marquis from Forza Italia leapt into the fray proclaiming the council’s decision as “illogical.” Yes, please, tell us why giving money to revive businesses is illogical. I suppose we should also stop feeding the poor because they might like the food too much!
In a delightful plot twist, the regional president, Renzo Testolin, huffed and puffed about “a path shared with the entire room.” Fascinating, isn’t it? It’s like a group project where one person does all the work but everyone gets an A! Testolin emphasized that the plan aims to not just slap some cash on the problem but nurture businesses equally—where’s the fun in that? But he had a point; you can’t just throw money at the flood damage like it’s confetti at a wedding—unless it’s your wedding, then by all means!
But who’s feeling all warm and fuzzy inside? Well, none other than the Association of Aosta Valley hoteliers! They’re waving a flag for 20% compensation for lost revenue. Because why not? If anyone knows how to profit from disaster, it’s the hospitality industry! Give me a cocktail called “Flood-a-Rita” and I’m good to go!
Testolin also assured us that they’d need around €17 million to restore municipal infrastructure, which might sound like a lot, but when you’re allocating funds to fix what the floods broke, it seems like the penny pinching has gone too far. And we’re not talking about finding loose change at the bottom of your sofa—this is infrastructure we’re talking about!
To sweeten the deal, they’re aiming for a series of World Cup races in Cogne. Yes, nothing says “we’re back in business” like gearing up for an adrenaline-fueled sports event while simultaneously bailing out businesses affected by flooding! Quite the juggling act, wouldn’t you say? It’s like trying to dry your socks while walking in the rain!
Of course, the council meeting turned into quite the theatrical performance when various group leaders decided to distance themselves from the agenda. Abstentions aplenty—18 of them! I mean, come on! It’s like they’re playing “Hot Potato” with zero interest mortgages! And let’s not forget the final tally: two votes against and only three courageous souls in favor from the Forza Italia group. Next time, invite the “Yes” men just for a change, will you?
In conclusion, in the grand saga of “Zero Interest Mortgages for Flooded Businesses,” we see a comedy of errors unfolding before our very eyes. Money handling, infrastructural planning, and a dash of theatrics—what else could you ask for? If this whole venture doesn’t make you chuckle, who knows what will? So, grab your popcorn and let’s see how this one unfolds!
Not gods refreshments but gods zero interest mortgages to help the businesses damaged by the flood that hit the Aosta Valley between 29 and 30 June, damaging in particular Cogne e Breuil-Cervinia (Valtournenche). It is the path traced by the Region in a bill which will soon be analyzed by the Valle Council commissions. A path which, in a meeting on the sidelines of the last session of the Valle Council, was also shared with the minority group leaders.
But among the many agendas connected to the Defrthe Regional Economy and Finance Document, there is one of the group Forza Italiaillustrated in the classroom by the group leader Pierluigi Marquiswho expresses “opposition” to the “illogical” decision of the regional council to propose funding. Not only that. The provision asks the government to provide cash aid, meeting the “requests from the territories and from Adava”, the Association of Aosta Valley hoteliers who had proposed 20% compensation on lost revenues compared to 2023.
“This agenda demonstrates the lack of attention towards a path that was shared with the entire room. – the President of the Region replies annoyed, Renzo Testolin– From the beginning we showed attention to the damage caused by the flood and a sharing path to avoid taking steps forward to distance ourselves.” The choice fell on financing “to support families and businesses equally, whatever event may happen” without creating dangerous precedents.
“You cannot deal with situations in one way today without knowing that you can also guarantee this type of intervention in the future,” he says. And he explains: “There are a series of activities that they would take home a few tens of thousands of euros for a reimbursement of a percentage of the missed collection when there are needs that could be much larger” and would be answered “in a repayable zero interest loan in three, five, eight, ten years to relaunch the business”.
Testolin focuses on some shared “priorities”: finding the necessary resources to restore municipal infrastructure and encourage initiatives for revival of tourism. “The resources that the regional administration will have to advance without knowing whether the state administration, through the Civil Protection will be able to satisfy the requests presented already a few months ago, amount to 17 million euros just to restore the infrastructure. We worked together with the government and the Tourism Councilor to bring to Cogne six World Cup races over three days, January 31st and February 1st and 2nd, with a contribution from 500 thousand euros to meet the needs of having a positive result and increasing attendance at the location in a period in which large attendances are not expected”.
In recent days the agreement with the national government has also been closed from 10 to 15 million euros the sum allocated to the Aosta Valley and Piedmont for the damage suffered by the flood.
The various group leaders who have spoken on the topic distanced himself from the agenda. The Valdôtain gathering and the Lega they decided not to participate in the vote. The initiative was therefore rejected with 18 abstentions, two votes against, and only three votes in favor from the Forza Italia group.
