Rehn gives Italy thumbs up, criticizing Berlusconi

The Commissioner for Economic Affairs does not name names for electoral fairness
But he affirms: “Since November 2011 improvements – before there was an incoherent administration”

“Italy has become a much more stable and safe country.” These are words of Olli Rehn, the European Commissioner for Economic and Monetary Affairs, who is supporting our country, inviting us to “continue on the road to reform and fiscal consolidation”. At the European Policy Center in Brussels, Rehn congratulates Italy and the work done by those who guided it in these months, precisely “since November 2011”. Names won’t be named, we are in full electoral campaign and it is preferable not to distribute gifts or sponsor anyone, but the references are obviously to Senator Monti and Berlusconi. “The difficult situation in which Italy found itself in September 2011 – explains Rehn – was precisely due to lack of respect for the responsibility of budget policy”. Then “since November in Italy we have witnessed a more coherent and prudent politics of stabilization, while interest on bonds came down considerably, which will help boost an economic comeback”.

Rehn doesn’t say it openly, but maintains that Italy has made great efforts. Leave it to the masses to send the message. “The spread on 10 year Italian bonds from November 2011 until today has been cut in half, generating savings of 3 billion Euro just in the first year.” Italy therefore avoided finishing in the abyss, but this doesn’t mean we are safe. Our country “must avoid ending up in choppy water”, warns Rehn, who suggests “continuing with the reform and consolidation”. The rest is just details.

Even IMU (Italian property tax), which is heating up the Italian electoral campaign, is considered not indisputable in Brussels. “One of the European values is skepticism”, articulates Rehn, “it is always possible to reassess everything, I don’t consider this dangerous. But for Italy, the important thing is to follow with reform and budget consolidation.”

Rehn lingers on the general situation. 2012 was a crossroad, “a year of crisis but also of progress”, and 2013 must be the year of change, the year in which “we must capitalize on the improved sentiment”. The European Commissioner for Economic and Monetary Affairs looks optimistically at the challenges that are waiting Europe. “Just this week the latest economic indicators showed signs of stabilizing and the economic sentiment improving at a steady rate”. This is a sign that the European Union has done a good job, and the decisions taken, even if not easy, are providing results hoped for. But we can’t depend on past accomplishments. “The next few months – warns Rehn – will still be difficult because the economy will remain weak and our citizens will continue to feel the effects of the crisis”. After all, “even if there is less reason for pessimism at the start of 2013, we can’t afford to lower our guard”.

Renato Giannetti