The situation in Italy as a new cause for concern in the EU

On May 27, an attempt to form a coalition government in Italy consisting of the populist and anti-system Five Star Movement and the right-wing League ended in failure. The President of the Italian Republic and the coalition failed to agree on the candidature of Minister of Economy and Finance. Sergio Mattarella announced that he would never agree with the appointment of Minister of Finance, Paolo Savona, an eurosceptic and opponent of Italy’s participation in the eurozone.
So, who is Paolo Savona, whose figure led to the collapse of the new government? – He is Professor of Economics, worked in the Central Bank and in the largest employers’ organizations in Italy, he was in the councils of many large companies and banks. The 81-year-old politician had political experience: he was Minister of Industry and Head of the Department of Public Policy. But over the years, Savona’s views became more rigid. The candidate for Minister of Finance, proposed by anti-system parties, is not only a strong critic of the euro, but also a convinced nationalist and opponent of Germany’s policy. The media published often his statements, and in one of his scientific works he claimed that “Chancellor Angela Merkel managed to realize – though peacefully – Hitler’s plan for German hegemony in Europe”.
And since earlier Mr. Mattarella has repeatedly said about the inviolability of the European parameters for the future of Italy, he does not agree to see in the most important public posts people who lead the country in a different direction. It turns out that the prospect of forming an Italian cabinet of ministers has rested on the figure of the 81-year-old possible minister. And in whose favor this problem is resolved, it has not yet known. In any case, it is not good for the integrity of the European Union.
The process of forming the Italian Cabinet is being watched very carefully in Brussels. Because this situation can lead to another crisis in the eurozone. Let me remind you that the amount of Italy’s public debt is 130% of GDP – after Greece it is the second largest public debt among the EU countries. However, Italy ranked first among the EU debtors, given that it is the third largest economy in the eurozone.
And given the upcoming exit of Britain from the European Union (Brexit), the discontent of Poland and Hungary with the EU migration policy, the withdrawal of Washington from the Iranian nuclear deal, the trade wars with the USA, new sanctions and energy security issues, the current situation in Italy will add problems to Brussels. In addition, on May 29, at the peak of the Italian political crisis, the Project Syndicate published Soros’s comments on the possible collapse of the European Union. It may have been his doing, creating chaos in Italy. Therefore, it is quite possible that soon Rome will say “ciao” to Europe, as London has recently done…

Author: magarcialpz

¡Bienvenido a mi blog donde puedes leer la información interesante sobre los acontecimientos en la arena internacional!

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