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Sunday, August 14, 2022

Draghi resigns, Europe is weakening

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Mario Draghi has defended on various occasions that the democratic legitimacy maintained by a technocratic government like his should have the virtually unified support of the chambers. On Wednesday, La Liga, Forza Italia and the 5 Star Movement took him away and pushed him to resign. He did it yesterday. The crisis began more than a week ago when the grilling They refused to vote on a Senate confidence motion to raise their own profile and escape their own internal strife, and the prime minister tendered his resignation at the time, but President Sergio Mattarella did not accept it, hoping he would reconsider his position. Over the next five days, Draghi will come under heavy pressure from Washington, Brussels and Ukrainian President Volodymyr Zelenskyy. But it was not possible, and Italy, after a series of absurd, misguided and self-destructive moves by its political leaders, has entered what is perhaps the darkest moment in its recent history. Elections will be held in September – in which, according to a poll, only three out of ten Italians wanted to vote – and the number that is emerging is that of Giorgia Meloni, at the head of the Brothers of Italy, Vox’s partner, who have been the only ones from the start to resist the challenges of a government that has enacted some of the most urgent and unpopular reforms in 17 months.

Draghi has become one of the strongest bastions of resistance to Vladimir Putin’s war in Ukraine in recent months within the European Union. He did so in the face of sympathy for the Russian leader from formations such as Matteo Salvini’s League and the M5E, which opposed arms sales to Kyiv. His determination to rein in the autocrat has served as a retaining wall to prevent the theory that sanctions against Russia are self-inflicted damage to the European economy being levied against his country.

But Draghi was above all the guarantor that the reforms that the Union was asking of Italy would be carried out – he completed those of the judiciary and public administration, he did it with the tax and competition reforms – and that the implementation of the Plan of recovery would be carried out with a firm hand. Italy will receive 230,000 million from the recovery plan, it has already received the first payment – 21,000 million – and was about to request the second. All is in the air now as the EU’s third largest economy is rocked by instability and budgets to fight inflation are postponed die sinus. Rome’s energy dependency is another of its weaknesses, the coming months can be very tough and will no doubt facilitate the penetration of populist messages.

Draghi also resigns on the same day that the ECB hikes interest rates. In such a fragile world situation, he was one of the heavyweights of a Europe that is now dawning weaker.

Source elpais.com

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