A credibility deficit for the Conte Government

The Conte Government arises like Lazarus, but it is getting started with the burden of a disquieting deterioration of the position of Italy in the EU.

13/06/2018

The Conte Government arises like Lazarus, but it is getting started with the burden of a disquieting deterioration of the position of Italy in the European Union.

In recent years, Italy succeeded in reaching the front row in the battle to democratize EU structures and procedures and to substantially correct austerity policies. It hereby managed to achieve significant flexibility in investments and to reverse the recessionary cycle in its economy, the first effects of which we have begun to appreciate in recent months.This tenacious and intelligent action brought forward by the Renzi and Gentiloni Governments provided crucial support to the QE strategy which was simultaneously carried out with strength and foresight by Mario Draghi, and allowed Italy to begin reducing the burden of public debt and enjoying low interest rates on the capital markets.
Of course, much remained to be done, but we managed to establish the preconditions for instituting a European Finance Minister and for implementing coordinated economic policies, coordinated policies to manage the post-Brexit phase and coordinated migration policies.
It was this precious asset of Italy’s political credibility that the ineffable partners of the new Government managed to squander in the space of a few weeks of endless tactics and irresponsible slogans, during which the spotlight of international public opinion focused on the more or less latent proposals calling into question the permanence of Italy in the euro zone.
The unprecedented standoff in the candidacy of Prof. Paolo Savona, the spearhead of anti-eurozone economic thought, at the helm of the national economic and financial policy, portrayed the image of a country in disarray. A confused and unreliable country to the watchful eyes of international markets, which was immediately struck by the soaring of the infamous spread and the resulting pulverising of hundreds of billions of euros held by public funds and private savings.
Our opinion on Conte Government’s political adventure, an expression of the inauspicious merging of two (opposite?) populisms, is clearly negative. The agreement signed by Di Maio and Salvini has only heightened our concerns about the serious risks concerning the financial balances and our country’s international relations. Italy’s political axis strongly shifted to the right. The government portrays itself as a bit welfarist and a bit reactionary repressive. It’s on the path to endlessly expand the State deficit, to encourage social parasitism (17 billion euros for basic income) and to broaden social and territorial inequalities (70 billion euros for the flat tax). All of this while it openly expresses sympathy for reactionary and regressive regimes and for countries which openly oppose the European Union.

A stronger progressive European voice is needed, because unfortunately we have already discovered that part of the leadership of the EU’s moderate parties remains the best ally of our local populists.

Di Maio and Salvini have become the protagonists of a political experiment with troubling and disturbing characteristics. We will fight the adventurist choices of this government without hesitation, but we will not let Italy go to pieces, following the flawed logic of “the worse the better”, as it does not fit our democratic ethos nor our true patriotism to profit from the misfortunes of the Italian citizens.
Italy cannot remain imprisoned by the populist demagoguery of those who aim to pursue a permanent election campaign and to drive the country into the unknown.
We will continue to fight with conviction and vigour to reinforce the Italian presence in Europe and at the same time to further democratize the Union’s governance, to build an anti-austerity European coalition and to breathe life into a reformist and European progressive culture. A stronger progressive European voice is needed, because unfortunately we have already discovered that part of the leadership of the EU’s moderate parties remains the best ally of our local populists.

Original Article from : https://www.huffingtonpost.it/gianni-pittella/il-governo-conte-parte-con-un-deficit-di-credibilita-politica-in-europa_a_23448460/?utm_hp_ref=it-homepage

Find all related publications
Publications
21/09/2023

A European Health Union

A blueprint for generations
18/09/2023

Making trade work for prosperity, people and planet

FEPS Primers series - Arancha González and Yanis Bourgeois
14/09/2023

SDGs for all: Strategic scenarios

Earth4All system dynamics modelling of SDG progress
07/09/2023

European perceptions of public programmes for zero unemployment

Online survey and qualitative interviews: The results
Find all related news
News
20/09/2023

FEPS is recruiting 1 project officer

Notice of vacancy
14/09/2023

FEPS President at the SDG Summit and United Nations General Assembly in New York

FEPS President Maria João Rodrigues is in New York this week on the occasion of […]
14/09/2023

Call for tender – Researcher on inflation

Basic Information Project    The profits-prices spiral: measures to avoid inflation  Partners   TASC (Ireland), Pietro Nenni Foundation (Italy)  […]
12/09/2023

Call for tender – Research and analysis for the project “Progressive paths to rebuild Ukraine”

Basic Information Project Research “In search of a ‘lost generation’. Harnessing youth potential for post-war […]
Find all related in the media
In the media

‘SDG funding gap swells to $137trn’ New Policy Study from FEPS, together with Earth4All, to deliver a five-point plan for the SDGs.

by Edie 19/09/2023
The “SDGs for All” report emphasises that policymakers have the potential to significantly advance SDG implementation by the original 2030 deadline and beyond by enacting five “extraordinary turnarounds” that break away from current trends.

“Trade doesn’t work in isolation from good domestic policies” Interview to Arancha González

by Borderlex 19/09/2023
Interview to Arancha González, former Spanish foreign minister, who released together with FEPS the new book entitled 'The Trade Handbook: Making Trade Work for Prosperity, People and Planet'

AI to ‘determine course of global trade, jobs’ in near future

by The Financial Express 14/09/2023
The Financial Express's article focuses on the publication of FEPS Primer on Trade written by Arancha González Laya and Yanis Bourgeois

Un nuevo informe de prospectiva identifica las medidas políticas urgentes necesarias para volver a encarrilar los ODS

by Cope 14/09/2023
'New foresight report identifies urgent policy measures needed to get the SDGs back on track' Cope's article on the policy study 'SDGs for all: Strategic scenarios', published in collaboration with Earth4All