Italian Prime Minister Giorgia Meloni said on Thursday (4 January) that the euro zone rescue fund is “outdated” and that Italy’s failure to ratify reforms to the system would make it “more efficient”. He said it was an opportunity.
Last month, members of the House of Commons rejected a motion to ratify the European Stability Mechanism (ESM)’s 2021 reforms. This will strengthen the Fund’s financial strength and give it more authority to oversee countries in distress.
Italy is therefore the only country in the European Union that has not ratified this Convention, which cannot be implemented without the approval of all national parliaments.
Responding to a question about how the hard-right government would respond at his annual year-end press conference, Meloni said the ESM was an “outdated” tool as it had never been ratified by a majority in Italy’s parliament.
“Perhaps Italy’s failure to ratify the treaty could be an opportunity to make it more effective than it is now,” he told reporters.
“In my opinion, this is the direction the government should be working in.”
Meloni’s government was divided over the December 21 ratification motion tabled by the centre-left opposition party.
His post-fascist Italian Brothers party voted against it, as did his deputy prime minister Matteo Salvini’s far-right alliance.
However, the third party in the ruling coalition, the right-wing Forza Italia, led by the late Silvio Berlusconi, abstained.
Founded in 2012 at the height of the eurozone debt crisis, the ESM borrows from financial markets to provide below-market loans to struggling eurozone countries. In return, fiscal reforms must be implemented.
Spain, Portugal, Greece, Ireland and Cyprus all use it, but there is still deep suspicion in Italy, with many considering it a tool of the north
European countries impose austerity on the South.
There are also concerns that Italy will be forced to restructure its huge debts if it uses the ESM.
Meloni said in December 2022 that Italy would “sign with blood” not to join the ESM.
G7 Presidency
Meloni told reporters that aiding Africa’s development and tackling the dangers posed by artificial intelligence (AI) will be two key themes during Italy’s year-long G7 presidency.
Meloni added that Italy would maintain its support for Ukraine in its war against Russia, and warned that further escalation of the Middle East conflict could have “unimaginable consequences.”
In early January, Italy took over the rotating presidency of the G7, which also includes the United States, Canada, Japan, Germany, France, the United Kingdom and Italy.
A number of ministerial meetings are scheduled to be held throughout the year, including a summit meeting in June. But Meloni said he hopes to hold a special session by June focused on AI.
“I’m very concerned about the impact[AI will have]on the labor market,” she said at a year-end press conference held over from last month when she was ill.
“Today we are facing a revolution in which (human) intelligence is in danger of being replaced.”
He told reporters that aiding Africa’s development will also be a central theme at the G7 meeting, saying it is important to boost local economies and living standards to deter would-be migrants from heading to Europe.
“What I think needs to be done in Africa is not philanthropy. What needs to be done in Africa is cooperation and building serious strategic relationships, where we are equals, not predators. The point is to protect the right not to have to migrate, and this is done through investment and strategy.”
war is on the agenda
Other issues likely to determine the Italian presidency include the war in Ukraine and the conflict in Gaza between Israel and the Palestinian militant group Hamas.
Meloni called on Israel to avoid civilian casualties in the Gaza Strip and said a more durable solution to the Palestinian issue needed to be found.
“I think… it’s a mistake to say, ‘First let’s destroy Hamas and then we’ll talk about it,'” Meloni said.
“One of the best ways to call out the bluff of Hamas, which has no interest in the Palestinian cause, is to work towards a structural solution to the Palestinian issue,” she added, adding that the European Union should be more visible on the diplomatic front. He said they should play a role. attempt.
Meloni, who took power as Italy’s first female prime minister in October 2022, said she believed Western countries should continue providing arms and material aid to Kiev.
“The only way to reach any kind of diplomatic solution in Ukraine is to maintain a balance between the forces on the ground in any kind of negotiations.”
gun accident
Meloni said at the same press conference that he had recommended that the MP who caused the gun incident on New Year’s Eve be suspended from the party.
Meloni was facing opposition demands to punish his party’s Italian Brotherhood lawmaker Emanuele Pozzolo after a gun he was carrying went off during a New Year’s celebration, injuring a bystander. .
Meloni said he recommended a suspension pending an investigation into Pozzolo’s conduct by the Italian Fraternal Committee.
Italian prosecutors are also investigating Pozzolo, who denies firing the mini-revolver himself.
(Edited by Georgi Gotev)
