EU in crisis: Italy’s populist victory is ‘wake up call’ for ‘sinking Titanic’ of Brussels
ITALY’S new government is a “wake up call” for the European Union which has been branded a “Titanic that is sinking” by populist forces, who accused the bloc of “suffocating” Rome with its agreements.
By ALICE SCARSI
Express.co.uk
Mon, May 14, 2018
Europe is on its way to be hit by a blow even bigger than Brexit as anti-EU Lega and anti-establishment Five Star Movement are close to find an agreement that will sanction the first ever government coalition made entirely by eurosceptic parties.
After almost two months of political deadlock, right-wing Lega leader Matteo Salvini has agreed on ditching his alliance with Forza Italia’s Silvio Berlusconi and join coalition talks with Five Star’s Luigi Di Maio.
Both parties have pledged in their electoral manifestos to curb immigration and lead an attack against the EU’s financial policies, including its deficit limit.
During the meetings held during the weekend, the pair agreed on measures that would come at a combined estimated cost of £110billion (€124.5bn), and include a flat tax as low as 15 percent, a guaranteed income for the poor and a lower retirement age, currently set between 63-65.
Italy is one of the founding members of the EU and is the eurozone’s third-biggest economy.
If the two party leaders were to maintain the promise made since 2014 to hold a referendum on the euro, the EU could risk its very foundation crumbling.
Megan Greene, chief economist at Manulife Asset Management. “If we do see the Italian government really clash with Brussels we could see calls again that Italy would be better off outside the euro area.”
And the attack on the EU wouldn’t stop at the economy.
Anti-immigration Mr Salvini spoke against the EU policy concerning immigration.
Calling for a change in the EU immigration policies, he said: “I’m worried both as a father and as a citizen.
“In Italy arrived 600.000 refugees who may bring the war to our doors.
“And what does Europe do? Nothing, it endorses the position of the climate migrant as if we didn’t have enough problems.”
Federico Santi, a political analyst at Eurasia Group in London, said: “Italy is a wake-up call that populism is alive and well.
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