Monday

25th Jun 2018

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

Support quality EU news

Get instant access to all articles — and 18 year's of archives. 30 days free trial.

... our join 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.

Focus

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.

Analysis

Greece facing post-bailout challenges

Creditors are expected to agree Thursday on a final loan and debt relief measures for Greece. After eight years on an international lifeline, the country will remain under close surveillance - but will have to find a new economic model.

News in Brief

  1. Nine countries to sign up for Macron's military initiative
  2. Re-elected Erdogan potentially in power until 2028
  3. Macron's popularity drops among French pensioners
  4. Tajani calls for €6bn investment to halt migration
  5. Major demo in London for second EU referendum
  6. Venice Commission: Hungary should repeal NGO law
  7. Trump threatens to slap 20 percent tariff on EU cars
  8. EU closes deficit procedure against France

Stakeholders' Highlights

  1. UNESDAThe European Soft Drinks Industry Supports over 1.7 Million Jobs
  2. Mission of China to the EUJointly Building Belt and Road Initiative Leads to a Better Future for All
  3. Macedonian Human Rights MovementMHRMI Launches Lawsuits Against Individuals and Countries Involved in Changing Macedonia's Name
  4. IPHRCivil society asks PACE to appoint Rapporteur to probe issue of political prisoners in Azerbaijan
  5. ACCASocial Mobility – How Can We Increase Opportunities Through Training and Education?
  6. Nordic Council of MinistersEnergy Solutions for a Greener Tomorrow
  7. UNICEFWhat Kind of Europe Do Children Want? Unicef & Eurochild Launch Survey on the Europe Kids Want
  8. Nordic Council of MinistersNordic Countries Take a Stand for Climate-Smart Energy Solutions
  9. Mission of China to the EUChina: Work Together for a Better Globalisation
  10. Nordic Council of MinistersNordics Could Be First Carbon-Negative Region in World
  11. European Federation of Allergy and AirwaysLife Is Possible for Patients with Severe Asthma
  12. PKEE - Polish Energy AssociationCommon-Sense Approach Needed for EU Energy Reform

Latest News

  1. Progressive CAP alternative only hope for sustainability
  2. Ponytailed green MEP joins 'the other side of the table'
  3. EU leaders still in search of migration plan
  4. Migration row at centre of EU summit This Week
  5. Merkel's woes cast shadow on EU's future
  6. Europe's tech race - trying to keep pace with US and China
  7. Merkel and Juncker's mini-summit risks fiasco
  8. Greece and creditors proclaim 'end of crisis'

Join EUobserver

Support quality EU news

Join us