ROME – Europe’s giant Mario Draghi on Friday formally presented the unity government to the Italian president, but assured that he would become prime minister at an uncertain moment when the prospect of a more closely tied European. The Union relies on the success of Italy.
Mr Draghi, who is expected to easily overtake the formalities of a vote of confidence in parliament next week, will be tasked with guiding Italy through a devastating and unpredictable epidemic.
But it must secure its future by using a one-penny relief package provided by a debt borrowed for the first time collectively by all EU countries. If he succeeds, he can set an example. If that fails, EU countries are unlikely to approve such a package again.
Mr. Dragi reached a state of rare slums in Italian politics.
A recognized politician in Europe, he had a problem against his predecessors, who struggled to support together to form a government. Mr. Draghi spent weeks trying to find a place on his bandwagon for the ideological hodgepodge of political parties.
Pro-European liberals and former communists joined the far-right populist forces who wanted to be part of their establishment, anti-establishment forces and free-market media moguls who changed their tunes to welcome back to normalcy.
“I will read the composition of the government,” Mr Dragi said in a stern statement on Friday night, contradicting the verbosity of his predecessor and pointing to his strict professional reputation and the urgency of his command.
During a previous visit to the President’s Cuernal Palace, Mr. Draghi spoke about “the extraordinary resources of the European Union” and the opportunity it has given to Italy’s future. On Friday night, he read out a list of empty cabinet members, mostly politicians and some key technocrats. Then he walked away.
Mr. Draghi’s varied support could cause an interstate spot on the road. But lawmakers said the need to spend cash too quickly could also lead to meaningful improvements in Italy’s investment-ridden bureaucracy and glacier justice system.
That bet is enough. But experts, legislators and EU officials say the future of the bloc, being a more unified financial union, is also riding on Mr Draghi’s success in managing Brussels’ hundreds of billions of euros. They think they are in good hands.
“The fact that Draugi will lead the country at this particular moment was very big news,” the European Union’s economic commissioner and former Italian prime minister himself said in an interview in Brussels. “And very good news.”
Mr Gentiloni said Mr Draghi’s arrival after the fall of the Italian government had reassured European leaders, especially because of his reputation for “taking care of execution”.
Others said Mr. Draghi’s position as a potential leadership politician was crucial in itself, a union based on a potential leadership emptiness. Britain is out, German Chancellor Angela Merkel is due to step down, and French President Emmanuel Macron is facing tough elections.
For the more enthusiastic supporters of the stronger European Union and Italy’s leadership, Mr Draghi’s arrival comes just in time.
Last year, Ms Merkel and Mr MacCrone overcame opposition to approving a 750 billion euro ($ 857 billion) stimulus agreement to protect the economies of the virus-ridden member states. Proponents of her case have been working to make the actual transcript of this statement available online. Proponents of her case have been working to make the actual transcript of this statement available online.
For the first time, countries raised money by selling bonds en masse in the open market, and then distributing more money as grants instead of loans, which did not need to be repaid in other Union countries. This block is marked by a decisive departure from the rules to prevent national debts.
Italy has received a large share of about 20 9,209 billion, compared to today’s martial plan. This time there are plans to invest in digital competitiveness, education, green economy and big work projects.
But the hurricane has also gained momentum due to wind and rain. Northern European countries are already resisting the idea of carrying the burden of their taxpayers The debt-ridden European is concerned about the exploitation of southern Rome and its ability to spend effectively. After defending the euro as president of the European Central Bank, Mr Draghi will now have to defend the dream of an ever-closer, and more physically integrated union.
“If this succeeds, it will be a cornerstone for European success,” said Mr Gentiloni, who said that while the relief fund was envisioned as a one-off operation in an extraordinary year, the union’s history has shown that it sticks to it. . what are you doing. “It could be an example.”
Others put Mr. Draghi’s work, and its impact on the future of Europe, in a more historic historical perspective by referring to Alexander Hamilton in the United States.
Natalie Toki, director of the Italian Institute for International Affairs and adviser to the European Union’s foreign policy chief, said that if it was a success, it would inevitably ignite the Hamiltonian process. “If it’s a failure,” she said, “it’s a nail in the coffin of people who believe in financial union.”
In particular, Mr Gentiloni agreed, saying the failure “over the years, it has been very difficult to resume the idea.”
Doubts about the capacity of the previous government, led by Giuseppe Conte, led to the collapse of his government for reasons to spend money effectively. After Mr. Conte’s failed attempt to form a new coalition, President Sergio Matt Tarela called on Mr. Draghi to form a government together.
Mr. Dekhini was uniquely prepared for the moment by the credibility of his leadership of the European Central Bank during the debt crisis, his deep business connections with top players on the European stage and his understanding of the Italian economy.
Their gravity has proved to be an almost unparalleled influence for the political parties seeking a role in spending billions on Europe and gaining a share in its potential success.
Italy’s leading nationalist, Matteo Salvini, who at one time wore an “enough euro” T-shirt, mediated to appease his pro-business base and gain a seat in the government of the banker, the Italian-style euro.
The anti-establishment Five Star Movement, whose founders are campaigning to leave the euro, has split by overwhelmingly supporting Mr Draghi and hoping to make a name for itself as a small green party. They spent years calling Prime Minister Silvio Berlusconi a “psycho dwarf”, but now he will be in the same government as his supporters. So will the center-left Democratic Party which has been ridiculed for years by all of the above.
Lawmakers hope widespread support will allow Mr Draghi to enact emergency legislation to remove an administrative hurdle – and a baroque bureaucracy – that has slowed Italy’s pace for decades. For example, there is a hope among many that Mr Draghi will be able to cope with the slow pace of the Italian judiciary, as international investors are clearly moving forward to avoid futile lawsuits that could stabilize the business over the years.
“I’m sure Dragi is well-equipped, experienced to overcome these notable obstacles,” Mr Gentiloni also warned, “we should not raise expectations that this can be resolved in sudden progress.”
According to the bloc’s rules, Italy must submit its plan to spend the relief package by the end of April. Some lawmakers have expressed concern that the delay would put Italy behind other countries and defer money entering the system until the fall.
Mr Gentiloni said he saw no reason for Italy to be late and expressed confidence in Mr Draghi’s ability to do things. It is important for Italy, but also in Europe.
“Not just in the short term,” he said. “Even in the long run.”
