By
Henry Srebrnik, [Saint John, NB] Telegraph-Journal
Italy’s
populist
parties reacted with fury on May 27 when their attempts to
form a government
broke down after the country’s president vetoed their choice
of finance minister,
a harsh critic of the European Union’s common currency, the
euro.
Under
Italian law,
the president has the right to reject the appointment of a
cabinet member, but
his decision angered the two-party populist coalition.
Nearly
three months
after a general election on March 4, hopes that the country
would have a
government formed by Luigi di Maio’s anti-establishment Five
Star Movement and
the nationalist euro-sceptic League led by Matteo Salvini,
were dashed.
The
two parties
were set to form Western Europe’s first populist government,
and wanted Paolo
Savona, an economist and banker who has been highly critical
of the euro, to join
their government.
Together,
they won more
than half of the overall vote and insisted that their choice
of cabinet
ministers was an essential part of their democratic mandate.
But
Sergio
Mattarella, Italy’s nominally non-partisan president, saw
otherwise, blocking
Savona for the portfolio. He warned that Savona posed a
risk “for
Italian families and their savings.” Italy has second-highest
debt level in the
EU, after Greece.
Salvini
has asked
for a new election. “In a democracy, if we are still in
democracy, there’s only
one thing to do, let the Italians have their say,” he told
supporters in a
speech.
He called the crisis the death throes of a
political establishment
intent on keeping Italy “enslaved.”
Di
Maio, too,
called the rejection unacceptable. “It's an institutional
clash without
precedent” and “the darkest night of Italian
democracy.”
What was the point of voting, he asked, “if
ratings
agencies” make the decisions. He wants Mattarella
to be impeached.
Adding fuel to the fire, EU Budget
Commissioner Guenther
Oettinger on May 29 told a reporter he hoped financial markets
would teach
Italians not to vote for populists.
Salvini called Oettinger’s comments
“threatening” and showed
a “German desire for hegemony and control.” He warned Brussels
against
meddling.
Savona
has
described the euro as a “German cage” for Italy. Not one to
mince words, he has
accused Berlin of trying to achieve by economic means what it
failed to do in
the Second World War -- the domination of Europe.
This
will be seen
by many Italians as a Davos-instigated “coup d’état”
by a ostensibly non-partisan head of
state against a legally constituted coalition government.
Many Italians what happened in 2011 during a
previous
economic crisis, when Prime Minister Silvio Berlusconi was
ousted and replaced
by former EU commissioner Mario Monti.
That
suspicion will
be strengthened by Mattarella’s decision to ask Carlo
Cottarelli, a former
official with the International Monetary Fund, to form a
caretaker government.