Italy’s newly-anointed Prime Minister Mario Draghi – born into the upper class with long Bankster credentials – World Bank, Goldman Sachs, European Central Bank, etc. – appealed to Italians to be patient.
The government will deploy its $240 billion European relief package and “begin a new reconstruction,” said Draghi.
Draghi noted the country is facing a financial strain not seen since World War II. As we have been reporting, Italy’s economy was stagnant before the former Prime Minister locked down the nation last March to fight the COVID War.
On a year-on-year basis, Italy’s fourth-quarter GDP was down 6.6 percent. Yesterday, S&P said Italy’s GDP would climb 5.3 percent this year, and its debt is expected to rise to about 160 percent of GDP.
Carlo Bonomi, the head of Confindustria, the Italian employers’ federation, told the paper that the move to essentially “freeze work where it was” could prove to be a “profound mistake.” He said these moves to pay workers to stay home will delay corporate reorganizations, new investments, and new hires that are necessary to restart the economies.
Dead Populist Movement
Putting a nail in the populist movements that wanted to pull away from the European Union and the euro, Draghi took aim at Matteo Salvini, the head of the nationalist Northern League party, who was leading the anti-euro charge yet voted for Draghi to become Prime Minister.
In his speech to the Senate last week, Draghi said he wants to form an even closer relationship with the European Union, and the euro was here to stay:
“This government emerges on the basis of our country’s membership in the European Union and the Atlantic alliance… Supporting this government means sharing the irreversibility of the decision for the euro, it means sharing the view of an increasingly integrated European Union.”
In international relations, Draghi’s government would be “firmly pro-European and Atlantic” and would be better structured to “strengthen the strategic and essential relationships with France and Germany.”
TRENDPOST: As we reported in our article last week, “DRAGHI: ITALY’S NEW BANKSTER PM,” the Five Star Movement and the Northern League, movements that had campaigned on breaking away from the European Union, doing away with the euro, and restoring the lira… both parties voted for Draghi to become Prime Minister. Thus, the populist movements and what they pretended to represent are dead in Italy.
