Select Page

EU’s masks slips as insider accuses bloc of being behind Mario Draghi’s appointment as PM

ECB convention: Mario Draghi discusses coverage stance

The previous President of the European Central Financial institution, Mario Draghi, has been sworn-in as Italy‘s subsequent Prime Minister. Mr Draghi, a distinguished economist, accepted the highest function on Friday and later that day learn out a listing of ministerial picks designed to create consensus amongst political events. His new administration, consisting of a mixture of technocrats and politicians, are actually set to take workplace on Tuesday after a vote from each homes of the Italian Parliament.

That is anticipated to be a formality as a majority of lawmakers have already indicated they’d assist Mr Draghi.

Italy’s authorities disaster was triggered final month when former Prime Minister Matteo Renzi’s Italia Viva celebration withdrew its assist from the coalition, amid a row over the right way to spend the €200billion (£174.5bn)-plus that Rome is poised to obtain from the EU’s coronavirus restoration fund.

The expectations that Mr Draghi will be capable to reverse Italy’s fortunes are subsequently as excessive because the stakes.

Amongst his first main duties will likely be to speed up a vaccination programme as Italy strives to emerge from the coronavirus pandemic, which has to this point left 93,000 folks useless.

On the similar time, he will likely be anticipated to rescue the economic system from the worst recession since World Warfare 2.

If he prevails, Mr Draghi is prone to bolster your complete eurozone, which has lengthy fretted over Italy’s perennial issues.

EU’s masks slips as insider accuses bloc of being behind Mario Draghi’s appointment as PM (Image: GETTY)


Italian MEP Antonio Maria Rinaldi (Picture: LASETTE)

In an unique interview with, Italian MEP Antonio Maria Rinaldi advised the EU would possibly truly be the drive behind Mr Draghi’s appointment.

He mentioned: “EU chiefs are incredibly happy about Mr Draghi becoming Prime Minister of Italy.

“In spite of everything, he’s one among them.

“They could even be the force behind it.

“It would not be the primary time the EU has meddled with the interior politics of member states.”

In 2011, the EU was accused of carrying out a coup after the former President of the European Commission, José Manuel Barroso, threatened Greece with “paralysis of the country” unless MPs removed their Prime Minister to form an unelected “nationwide unity authorities”.

Former Greek Prime Minister George Papandreou unexpectedly announced a referendum to approve a second EU bail-out deal for his austerity-hit country, less than a week after it was agreed with international creditors at a European Union summit.

However, the response by the democratic leaders of the EU was swift and crystal clear: Greece wouldn’t obtain one other cent until Mr Papandreou was eliminated in favour of a “national unity government”.

JUST IN: London’s trade volumes five times larger than whole of EU combined

ctp_video, italy, italy news, brexit, brexit latest, brexit news, euro, eurozone, eurozone news, european union, eu news, european union news,

The former President of the European Central Bank, Mario Draghi, has been sworn-in as Italy’s PM (Image: GETTY)

ctp_video, italy, italy news, brexit, brexit latest, brexit news, euro, eurozone, eurozone news, european union, eu news, european union news,

The European Central Bank (Image: GETTY)

According to a 2011 Telegraph report, Mr Barroso warned that unless Mr Papandreou was deposed, Greece would not be able get its next payment from the EU and the International Monetary Fund, leading to national default and bankruptcy.

He said: “What we expect to happen is to have a government of national unity.

“What is the other option?

“Default and have actual difficulties to pay wages to the general public servants, to the colleges, to the hospitals, which can result in paralysis of the nation.

“I am sure that the majority of the Greek people do not want this kind of chaos.”

Even after Mr Papandreou abandoned his plan to hold the referendum, senior French, German and European officials demanded he stepped down to allow for a “technical” government that could implement the measures.

Mr Barroso said at the time: “We respect Greek democracy and Greece’s right to decide on its own future.

“At the same time, we need Greece to demonstrate commitment to the decisions that it has itself subscribed to.”

Economic analyst of the Open Europe think tank Raoul Ruparel said a new “compliant” Greek government would have been a “victory for the EU elite”.

Brexit Party leader Nigel Farage accused then-Prime Minister David Cameron of giving tacit agreement to the overthrow of European democracies by supporting closer “fiscal union” in the eurozone and EU.

SNP fury as Scotland given ‘slap in face’ during EU fishing talks [INSIGHT]
EU braced for pandemonium as insider warns ‘Germany deteriorating’ [REVEALED]
EU turbocharged by Brexit as France and Germany have become ‘unhinged’ [EXCLUSIVE]

ctp_video, italy, italy news, brexit, brexit latest, brexit news, euro, eurozone, eurozone news, european union, eu news, european union news,

Former President of the European Commission José Manuel Barroso (Image: GETTY)


Former Greek Prime Minister George Papandreou (Image: GETTY)

He said: “Cameron is actively encouraging the countries of southern Europe to sleepwalk into slow-motion, sugar-coated coup d’etat.”

Le Soir newspaper in Belgium described German Chancellor Angela Merkel and then-French President Nicolas Sarkozy as “putschists at the head of Europe”.

Mrs Merkel and Mr Sarkozy summoned Mr Papandreou to Cannes to instruct him to call off his plans to hold popular votes on Greece’s involvement in Europe.

The former Prime Minister was accompanied by Evangelos Venizelos, his then-finance minister, and they were given the ultimatum that Greece would not receive “a penny more” in aid payments unless Athens convinced the EU that it was “ready to make the commitments that come with euro membership”.

On returning from the meeting, Mr Venizelos set about preparing the ground for Mr Papandreou’s departure and a new transitional national unity government involving the Right-wing opposition.

Mr Papanderou dutifully resigned on November 11, 2011.

His successor, Lucas Papademos, was sworn in two days later.

As a former Vice President of the European Central Bank (ECB), he was considered a safe pair of hands by the Troika: the consortium of the European Commission, the European Central Bank and the International Monetary Fund that provided the bailouts.

The Greek people, however, were not consulted.

Once in power, obtained with no democratic mandate, Mr Papademos’ government approved a further round of austerity measures in February 2012, including a 22 percent cut in the minimum wage, €300million (£262million) in pension cuts, and the tearing up of workers’ rights.

Source link

Leave a Reply


New Delhi
06:4618:20 IST
Feels like: 21°C
Wind: 2km/h NW
Humidity: 62%
Pressure: 1008.81mbar
UV index: 0

Stock Update

  • Loading stock data...


Live COVID-19 statistics for
Last updated: 1 minute ago


Enter your email address to receive notifications of new update by email.