Free Trial

Pres Says Cabinet, Parl't Must Approve EU Recovery Fund Before Crisis

ITALY

Italian media reporting comments from President Serio Mattarella, pleading that the Cabinet and parliament approve the EU's COVID-19 recovery package before any attempt is made to bring the gov't down.

  • Mattarella's comments are in line with the MNI Exclusive published on 8 January 'Italy Reshuffle Nears As PM Conte Hangs On'.
  • The president's pleas may fall on deaf ears, given that it is the distribution of funds from the COVID-19 recovery package that has exacerbated the schisms between the gov't of PM Giuseppe Conte and the centrist Italia Viva party of former PM Matteo Renzi.
  • Nevertheless, should Renzi hold off from seeking to bring down the gov't, it seems likely that it will only prolong the inevitable (either a gov't collapse or a major Cabinet reshuffle) rather than allow for significant dialogue to take place.
  • The 'white semester' begins on July 1. This is the last 6 months of Mattarella's term in office, and during this period he cannot call an election. As such, Renzi or others seeking a change in gov't will have to act in the first half of the year or risk waiting until 2022 for their chance to force a vote.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.