Of euros to the ESM, Italy Salvini re-train his eurosceptic fire
Senin, 25 November 2019
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ROME (Reuters) - Matteo Salvini was recently dropped a threat to take Italy out of the euro zone but the leader of the hard-right now worrying the European authorities with a new target for his eurosceptic anger: the planned reforms of the region's bailout fund.
Eurozone finance ministers agreed on a draft reform of the fund, known as the European Stability Mechanism (ESM), in June and its leaders are due to finish next month.
But the change has sparked a political storm in Italy, fueled by opposition League party this Salvini. The government is under pressure to delay or try to change the reform treaty, and concern grows among Italian partners.
Economics European Commissioner Pierre Moscovici came to Rome on Friday and discussed the issue with Prime Minister Giuseppe Conte, told reporters that the reform is good for Europe and for Italy.
Bank of Italy and some prominent economists have expressed concern over the ESM reform proposal making it easier for the restructuring of sovereign bonds in the financial crisis. This could potentially hurt the debt market confidence in Rome, they say.
Salvini using powerful tone.
"To approve changes to the ESM would mean ruin for millions of Italians and end our national sovereignty," he said last week. He accused the government of "treason" by trying to sign an action against the national interest without the consent of parliament.
Salvini, a 46-year populist plain-speaking, anti-migrant message resonates with millions of Italians, looks on track to become the next prime minister, perhaps as soon as next year if the weakness of the current government produces early elections.
Behind the anger over the ESM is a smart political move to hold together the parties developing the wider church, the League told Reuters.
The league has risen to far the most popular political force Italy, with the support of some 33% of voters, the poll showed. This includes rabid nationalist who wants Italy out of the euro and a more moderate conservative compared to the upheaval.
The first group, led by the League economics spokesman Claudio Borghi and Alberto Bagnai, anti-euro economist who heads the Senate Finance Committee. the latter is embodied by the right hand pragmatic Salvini and Giancarlo Giorgetti Luca Zaia, head of the party for the rich northern Veneto region.
Salvini must perform a constant balancing act between the two constituents.
"NO EURO" NOT AGAIN
Many nationalist League Salvini disappointed by the abandonment of this position its anti-euro over the last year, is intended to try to calm investor concerns about the outlook for the party that had led the Italian government.
Fiery campaign against the ESM and then raise the Eurosceptics and does not interfere with moderate almost as much as the prospect of the so-called "Italexit".
"Salvini has made #No our new flagship ESM to take the place of the anti-euro campaign," said a prominent League lawmaker, referring to the Italian popular Twitter hashtag in recent weeks.
"It kept on board those who identify with Borghi and Bagnai without disturbing the market too much," said the source who asked not to be named.
Borghi and Bagnai attack ESM reform for months, but without public support from their leader, they received little attention. Now Salvini make up for lost time, only a few weeks before the reform is scheduled to be approved.
In tirades almost every day last week, he was denounced as an "attack on democracy and saving Italy," and vowed to "oppose in every place and in every way. '
That kind of language used to use about the euro.
Critics accuse Salvini hypocrisy because he was in power while the ESM reform being negotiated but never spoke out against it. League out of the ruling coalition in August.
Borghi told Reuters that the ESM issues Salvini considered too technical to engage with voters on before, but it has been decided that now the time is right.
"Of course I could never say what I sa
