The ECB under attack, as well as the ESM. The Minister of Transport and Infrastructure Matteo Salvini, in his speech on yesterday’s episode of Tg2 Post, once again explained his opposition to the ratification of the ESM and to the monetary policy that Christine Lagarde’s ECB is continuing to pursue, in its struggle, by now desperate, against the growth of inflation.
Lagarde’s ECB returned to the spotlight yesterday, on the occasion of the Sintra 2023 Forum, the Forum of central banks which started the day before yesterday, Monday 26 June, which will end today, Wednesday 28 June.
Today, in this regard, there will be the Grand Finale: in fact, in addition to Christine Lagarde,
Yesterday, Christine Lagarde, for the umpteenth time, dashed hopes not only for an about-turn by the ECB on rates, but also for a simple break, in a context in which the euro area has officially entered a technical recession.
The number one of the Eurotower explained the genesis and dynamics of inflation in the Eurozone, saying clearly that the ECB will act again, with a rate hike at the next meeting of the Governing Council of the European Central Bank. The reason: the persistence of inflation, and the fact that the central bank cannot claim victory yet.
Before his speech on Tg2 Post, the Deputy Prime Minister, leader of the League and Minister of Transport and Infrastructure Matteo Salvini had already launched a lunge against the ECB:
Tassi ECB, Salvini against Lagarde: “senseless and harmful choice”
Salvini then increased the dose, against the ECB but also against the ESM, in his interventions on the TG2 Post:
“The Mes at this moment for Italy it makes no sense, economically and institutionally, because the Italian economy, thanks to Italian entrepreneurs and workers, is the one that is growing the most in 2023, and therefore talking about it now is absolutely meaningless, because talking about it now means forcing Italians perhaps to put their money into saving the German banks, because when Italian banks were in trouble they paid savers who we are still trying to compensate. So Giorgia Meloni did well to say ‘We’ll talk about it again in the autumn, perhaps combining it with the reform of the Stability Pact, the banking union and other reforms that Italians expect from Europe instead”.
“I personally believed and still believe that the ESM was an outdated, useless, if not harmful, tool. then I’m part of a team and I play as a team, God forbid, but I take note of the fact that a few days ago 650,000 Italians, many of whom perhaps in front of the television, have subscribed to government bonds, BTPs, Treasury bills, like our parents and grandparents did, putting 18 billion euros into the state coffers, saying ‘We believe in Italy’”.
“Here – Matteo Salvini said again, in explaining his opposition to the MES – if I have to build infrastructure, schools, hospitals, roads, gyms, kindergartens, in Italy, I prefer to ask the Italians for that money, I prefer to get into debt with the Italians who then get the interest on the current account, than not putting myself, now, in a year, six years, in the hands of a foreign subject who responds to foreign logics”.
In view of European elections 2024Salvini spared no criticism of the European Union, underlining his closeness to Marine Le Pen, to the Austrians, “to change a Europe born of ideology”.
“Now they are issuing rules against Italian fishing, we risk losing half of the fishing vessels and half of the fishing jobs due to absurd regulations”
“Green cars, green steaks, green homes, outlawed wood. This is not environmentalism, this is ideology, this is madness e the electric-only car is the daughter of ignorance or someone who is on the payroll of the Communist Republic of China otherwise it is inexplicable”.
In addition to the ESM, Christine Lagarde’s ECB, with its decision to continue raising rates, was also harshly criticized by Lega leader Matteo Salvini:
“Here too it is inexplicable, they realize, because they say that their choices are harming Italian families and businesses, who go to the bank and pay more money that comes from the bank for the mortgage, for the company, for the shop and carry on, as if nothing had happened”.
“Here too, we bring the European institutions back to earth, in the shop, in the company. The attitude of the European Central Bank is inexplicable, which is not answerable to anything or anyone, just like the ESM, which would not answer to anything or anyone. They could force a temporary worker, a pensioner, an unemployed Italian to put his savings into saving a German bank. I don’t want the Italians to run this risk”.
(under writing)