In this Real Vision interview, renowned Italian investor Giovanni Pozzi speculates whether the U.S. is unprepared for the Coronavirus. Pozzi thinks that the Italian social safety net has been pivotal to Italy’s response to this crisis. He praises the National Institute of Social Insurance (INPS), which provides unemployment insurance of 80% of one’s salary for a full year, saying: “It kicks in very, very quickly. And it did kick in very, very quickly for small companies these days. And that helps a lot in avoiding layoffs, moving the costs from the private to the public.” Pozzi extrapolates from his observation that the U.S., lacking such social programs, might not be ready for when this unprecedented biological crisis becomes a financial and social crisis.
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