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Rome – The last-minute attempt to change the course of things was of little use. The first colleagues made it clear to Giuseppe Conte that their patience already exceeded the limits of the migrant case and that the Prime Minister, at the last meeting of the EU Council, had to approve, in fact a closed box, the conclusions of the summit. banks and rescue states in trouble. Unfavorable conclusions to Italy
The last hours of the European Council were reconstructed by a Financial Times reporter in Brussels and confirmed by European sources. At the summit table with heads of EU governments devoted to economic issues, Conte proposed some minor changes to the conclusions document. A couple of words to delete to take the time or to make less restrictive the constraints that the EU, or rather France and Germany, want to impose on Italian banks and governments. In particular, the limits on the bad loans held by the banks, dear to Paris, and the roadmap to reform the Save States, the famous European Monetary Fund, the troika Ue that pleases Berlin.
A few days ago saying that he would go to Brussels to defend Italian banks and that the government would also fight against the European Monetary Fund, which "would take the power to decide autonomous economic policies". Founded fears. The new stability mechanism highlighted by Angela Merkel and Macron consists in badessing the sustainability of public debts ex ante and not only ex post. Thus the new organization will be able to control states in difficulty. A kind of Euro-Troika that directly intervenes in economic policy choices. Second, more powers are given to private creditors holding public debt. A very expensive debt restructuring that seems to be tailor-made for Italy
As well as the famous Meseberg Pact, again between Merkel and Macron, which provides for a closure on the banks that hold Npl, then doubtful loans, similar to how long ago the chief of supervision of the ECB Danièle Nouy had tried to introduce, before being arrested by the European Parliament. A difficult situation that would put the Italian banks in trouble and make them evolutive
The roadmap dictated by France and Germany was defined by the president of the Eurogroup, Mario Centeno, as a " important contribution "to the discussion. The conclusions of the European Council, even if they lengthen the time (especially on the reform of the European budget for the opposition of the northern states) are included in the proposals of Macron and Merkel. Tale has not been able to stop the gear wheels facing the harsh opposition of the usual northern European states but also Spain with Prime Minister Pedro Sánchez. The main criticism of Italy: "No agreement already made". Hard to understand who, since the government has just been in charge
Conte had to be content with some changes that do not change the meaning of the document. "According to early rumors emerging at work" of the European Council, "Conte has lost its battle against other European heads of state to block the proposal for transformation of the European Stability Mechanism, a true European Monetary Fund ", commented Forza Italia Renato Brunetta, who congratulated Conte a few days ago for his position on the savings banks and the banking union. Issues difficult to sell from the point of view of consensus, but very important for the future of Italy and the European Union.
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