Home » The alarm from Brussels “Are you really sending Draghi away?” Fly the spread, Stocks down

The alarm from Brussels “Are you really sending Draghi away?” Fly the spread, Stocks down

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The alarm from Brussels “Are you really sending Draghi away?”  Fly the spread, Stocks down

BRUSSELS – The red alert in Brussels went off immediately. In the buildings of the European Union and also in the NATO headquarters. The resignation of Mario Draghi represent the biggest obstacle that the Union could encounter at this stage. From the political point of view, from the economic point of view and from the military point of view.

Already yesterday morning in the offices of the Commission, the tension began to rise. Together with the data of the stock exchanges, in particular that of Milan, and the spread between German BTPs and Bunds returned to the peaks of several months ago. Those who were present turned their questioning gaze towards Paolo Gentiloni, the European Commissioner for Economic Affairs, who was preparing to present the economic forecasts in the summer. Certainly not reassuring. Looks and words that can be summarized as follows: “Are you really sending Draghi away in Italy? Right now? In this context?”. And then even more specific and direct questions: “It was Giuseppe Conte? But he knows what the situation is. Was it the 5Stelle Movement? “.

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And it is no coincidence that just as he illustrated the emergency data on GDP and inflation, Gentiloni admitted: “Compared to the political evolution in Italy, I often speak of troubled waters. In these troubled waters with war, high inflation, energy risks, geopolitical tensions stability is a value in itself and I think that at this moment we need cohesion and not cause instability. We follow the evolution of the Italian situation with all the detachment of the case from an official point of view. From a personal point of view, detachment is a a little more relative, but in any case we follow it with worried amazement “. And he added: “If there were not a very large majority government, it would be a question of inventing it right now”.

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An atmosphere confirmed by the President of the Commission, Ursula von der Leyen. “The Commission never comments on political developments in member countries – explained her spokesperson – But the president has repeatedly emphasized the close and constructive cooperation with President Draghi. And she looks forward to continuing cooperation with the Italian authorities on priorities and policies. European “.

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Just to make it clear, therefore, what is the climate that has materialized in Brussels. In fact, it is not just a question of the stable circumstance that our country is a special observer. The Italian premier in fact constitutes or constituted until yesterday a point of reference in the EU. In a period in which Macron’s French presidency suffered the setback of an electoral defeat in the legislative elections and while the Scholz government in Germany still appears to be running in, the former central banker was perceived as a buoy.

Then, of course, there is everything else concerning Italy. Starting with the approximately two hundred billion euros granted with the Recovery Fund. The government of broad agreements was a kind of insurance for the Brussels offices. Also because the difficulties of the NRP, especially those concerning the objectives of the current semester, are known to all. These six months must be dedicated to the realization of concrete projects: construction sites, works. Almost all paid by local authorities. Not exactly the best from the point of view of bureaucratic efficiency. Not to mention the grievances that in particular the so-called “frugal” of the north periodically make against us. And that they could be much more aggressive as early as next week when the ECB raises the discount rate. This decision, with the tension on the markets relating to our public debt, will again expose Rome to constant and suffocating scrutiny by the EU.

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Then there is the military component. The annoyance for the Italian crisis, in fact, is also emerging within NATO. Not only for the contribution that Rome is offering in the Ukrainian war, but because the Western front risks showing itself divided and weakened by these events as well.

The clearest and most explicit in condemning the Grillina move in the Senate and the clearest in making it clear how important international ties are, was the leader of the EPP in the European Parliament, the German Manfred Weber: “Faced with the economic recession and the continuing challenges of the Russian war in Ukraine, Europe needs a stable government in Rome. An irresponsible and incomprehensible choice from the 5 Star extremists”.

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