Duel at a distance on the Mes, on the bottom saves European states.
«If Salvini is a man of honor, I say this: go to the Prosecutor's Office to make the complaint. I don't have immunity because I'm not a parliamentarian. He has it and has already taken advantage of it for the Diciotti case. Now see this time, because I will sue him for slander, not to take advantage of it anymore "
"Signor Conte has to get in line and take the note, first comes Signora Carola and Signora Cucchi", replied the former Minister of the Interior noting that "The growing arrogance of the people's lawyer recalls a phrase of the Marquis del Grillo:" I know 'me, you are not a dick ". He has the guilty conscience of children caught with their hands in jam ».
The showdown on Monday in Montecitorio, when the prime minister, Giuseppe Conte will report to the parliamentarians. Moments of very high tension were recorded when the premier, accused of being a liar, ordered the leader of the League, Matteo Salvini to sue him for slander.
Too bad that on Monday Matteo Salvini will not be able to reply in the Chamber, being a senator, but will entrust his thoughts to one of his loyalists, sitting in the Chamber. Giuseppe Conte intends to demonstrate that in the year of government the League was promptly informed and that the final text does not betray the parliamentary resolution passed on June 19 which asked the yellow-green government to work in the interest of Italy. Matteo Salvini last night participated in the program Right and Reverse by Del Debbio declared that he still had the text of a message between him and Prime Minister Conte where he reiterated that the agreement on the Mes should not be signed.
Giuseppe Conte wants to demonstrate that in a state of law "text messages" are no longer valid than parliamentary acts. Another issue is the position of the Movement which, after a close internal discussion yesterday, decided to help Conte by improving the text while expressing the utmost confidence in the premier himself and in minister Gualtieri.
Giuseppe Conte's line on the package. As the Messaggero Conte writes, it remains firm on the package line stated several times. The Save States reform is an important element together with the Eurozone budget and, above all, the Banking Union. Since work has begun on a mechanism that already exists, and that if it were not reformed it would still remain.
It is necessary to write a precise road map not only temporal, but which excludes, for example, some proposals for a Banking Union. Starting with the one recently advanced by the German Finance Minister OlafScholz. More than on the text of the reform, at Palazzo Chigi as well as at the Ministry of the Economy, work is therefore being carried out on parallel paths: the road map that allows for the insertion of the Mes reform into a "package" with defined outlines, and integration or correction of some annexes to the reform that more and more frequently, in community policy, integrate and guide the main text.
Giorgia Meloni, leader of Fdi, said the commitment could not be confirmed for a fund to which Italy, if it needed to be saved, could not access.
Let's talk about the Mes
To clarify our ideas an article from Panorama. The Mes is an intergovernmental organization of the Eurozone established in 2012with the aim of helping countries in economic difficulty. How huge it was cash fund where the rich put more and the poor less and when someone has problems the piglet breaks. Said like this it seems the egg of Columbus that will save us all, but things are a bit more complex.
Il MES has a budget of 80 billion 27% of which come from Germany which, in all probability, will never use their savings and therefore dictates the rules for others. Furthermore, the MES issues securities with the guarantee of the States that are part of it and for this reason is able to raise up to 700 billion in financial markets.
The parameters to access the MES
The problem is that for the States in difficulty it is not enough to raise your finger and ask for help from home, but to tap into what appears to be an oasis in the desert they have to subscribe to a whole series of conditions of tears and blood.
The first place must accept surveillance of the so-called Troika the committee formed by European Commission, European Central Bank e International Monetary Fund which will have the task of overseeing the implementation of a series of national reforms and changes required by Europe.
These are politically unpopular measures like the public spending cuts, tax increases, new labor laws, nationalization or privatization of institutions, public wages pensions and so on. In practice, it is Europe that decides the political line of the country in crisis. At the time of the ESM they used Greece, Cyprus, Portugal and Ireland.
The reform of the MES
For some time there has been talk of a reform of this Mechanism, a reform that however goes in two opposite directions. THE Rich countries (substantially those in northern Europe) are asking for greater loan guarantees and closer meshes so that the less strong nations do not take their financial commitments lightly, knowing that the MES will take care of it, while the potentially distressed nations (including Italy) would like the hand of Europe to stay away from popular sovereignty.
Since the beginning of 2018, the tug-of-war between "rich" and "poor" (to put it in a nutshell) in the Euro zone has continued unabated in an attempt to reach a fair reform that does not choke the nations in difficulty but that does not march on the pockets of the strongest countries.
Credit access mechanisms are among the key points of the reform. The most indebted countries, including Italy, were demanding that the lines of precautionary credit from the MES (which are called PCCL and ECCL in technical terms) were granted even without the need to sign a detailed agreement of unpopular reforms.
In the final version this request has been accepted, but as long as the countries that need access to the MES respect it the Maastricht parameters and in reality out of 19 Eurozone countries, 10 (ie the most indebted and therefore those who would potentially need the ESM) do not respect these parameters.
Instead, it was a victory for the "poor" the introduction of the so-called backstop for the Single Resolution Fund, a fund financed by European banks designed to help financial institutions in difficulty. The ESM can now finance the Resolution Fund up to 55 billion making the banks more secure.
And then there is the third change, the one won by the "rich" which not only does not like Italy but worries the weakest
The reform seeks to make it easier restructure the public debt of a country asking for help from the ESM. This means that individuals who have lent money to troubled nations will lose part of their investment by the time an aid package will be released with a complex system of buying and selling government bonds.
This determines that a country in difficulty can return less than what it owes to its creditors, but it implies that the creditors, aware of the greater risk of their loan, end up asking for interests proportionally high to the level of difficulty of the country in question.