Friday

23rd Jul 2021

Monti attacks 'short-termism' in EU politics

  • 'Leadership is opposite of short-termism,' says Mario Monti (Photo: World Economic Forum)

Italy's outgoing Prime Minister Mario Monti on Wednesday (23 January) criticised fellow EU leaders for the way they dealt with the euro crisis and said corporations are blocking reforms in order to promote "vested interests" in Europe.

"Leadership is the opposite of short-termism. And there was short-termism in the initial response to the euro-crisis," Monti said in a speech at the World Economic Forum, a yearly gathering of political leaders in the Swiss resort of Davos.

Read and decide

Join EUobserver today

Become an expert on Europe

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

The technocrat and former EU commissioner took over the reigns of power in 2011, when his predecessor and convicted fraudster Silvio Berlusconi stepped down amid market pressure which drove Italy close to a bailout.

Monti praised the Italian people for trusting him and for enduring the sacrifices that were needed to bring Italy back on track.

Without naming Berlusconi, he blamed the previous generations of Italian leaders who failed to transform the country, accumulated debt and allowed corruption and vested interests to flourish.

He spoke frankly about "northern leaders" - a hint to German Chancellor Angela Merkel and her Dutch and Scandinavian allies - who "failed to recognise the systemic component of the crisis," meaning that markets mistrusted Italy even when it started to clean up its act, because there was no confidence in the euro as such.

As seen in Italy, Monti said painful reforms everywhere in Europe can be accepted by the public if they see justice and fairness, instead of the rich and privileged being let off the hook.

"I saw corporate interests having rather more taxes than opening markets. Sometimes their resistance is camouflaged behind traditional ideas. Vested corporate interests are found throughout the EU, not just Italy," Monti said.

As for his own political choices, Monti - who so far had never been a political party member - said he took the decision to lead a coalition of centrist parties in the general elections on 24-25 February despite it being "against my nature and my personal interest."

"The essence of my endeavour is to build a highly competitive social market economy in Italy and in Europe. It is an ambitious agenda but we owe it to our people, to the most fragile who pay the price of unemployment. They are victims of governments not strong enough in confronting corruption, vested interests, tax evasion, market manipulation," he said.

Cameron is right

The former internal market commissioner, who authored a plan on how to improve the EU single market a few years ago, said he agrees with British Prime Minister David Cameron on one issue: that the single market is not working properly.

Cameron earlier on Wednesday said he wants Britain to renegotiate the terms of its EU membership, focusing on the single market, and then to submit the new deal to a referendum in 2017.

Monti said he also sees the "advantage" of putting the "real question" to the British people: whether they want to be in or out of the EU, rather than playing around with "marginal" questions.

"I don't know what the British people will say, but I am confident that all the costs and benefits of this decisions will come up and facilitate a positive decision for all Europeans," he said.

Italy to run balanced budget, minister says

The Italian economy will run a balanced budget in 2013 before returning to growth the following year, the country's outgoing finance minister has said.

Poland: UK no longer a leading EU country

Britain has lost its place in the club of leading EU nations over its plan to hold a referendum on EU membership, the Polish foreign minister has said.

Liberals unveil new Monti-backed Italian coalition

The EU's Liberals have unveiled a new Mario Monti-backed Italian centrist coalition, as the party attempts to fight back against dismal poll ratings that threaten to make it one of the biggest losers in May's European elections.

News in Brief

  1. Macron changes phone after Pegasus spyware revelations
  2. Italy to impose 'vaccinated-only' entry on indoor entertainment
  3. EU 'will not renegotiate' Irish protocol
  4. Brussels migrants end hunger strike
  5. Elderly EU nationals in UK-status limbo after missed deadline
  6. WHO: 11bn doses needed to reach global vaccination target
  7. EU to share 200m Covid vaccine doses by end of 2021
  8. Spain ends outdoor mask-wearing despite surge

EU adds new 'dark red' zone to travel-restrictions map

The European Commission has proposed additional measures to limit non-essential travel within and to the European Union - amid fears over more transmissible mutations triggering a new surge in cases across the bloc.

Stakeholders' Highlights

  1. Nordic Council of MinistersNineteen demands by Nordic young people to save biodiversity
  2. Nordic Council of MinistersSustainable public procurement is an effective way to achieve global goals
  3. Nordic Council of MinistersNordic Council enters into formal relations with European Parliament
  4. Nordic Council of MinistersWomen more active in violent extremist circles than first assumed
  5. Nordic Council of MinistersDigitalisation can help us pick up the green pace
  6. Nordic Council of MinistersCOVID19 is a wake-up call in the fight against antibiotic resistance

Latest News

  1. Far left and right MEPs less critical of China and Russia
  2. Why is offshore wind the 'Cinderella' of EU climate policy?
  3. Open letter from 30 embassies ahead of Budapest Pride
  4. Orbán counters EU by calling referendum on anti-LGBTI law
  5. Why aren't EU's CSDP missions working?
  6. Romania most keen to join eurozone
  7. Slovenia risks court over EU anti-graft office
  8. Sweden's gang and gun violence sets politicians bickering

Join EUobserver

Support quality EU news

Join us