The leader of the Five-Star Movement (MS5) Luigi Di Maio (L), May 7, 2018, and that of the League, Matteo Salvini, April 12, 2018
Exit of the euro, renegotiation of European treaties, cancellation of 250 billion euros of debt … A draft of „government contract“ in Italy between the League (far right) and the M5S (populist) published by the press raises a wave of concern, although both parties say the document is not definitive.
While the boss of the League, Matteo Salvini, said that an agreement would be concluded „in the day“ to form the first anti-system executive in Italian history, the publication by the Huffington Post of a draft „contract of Change Government „made the effect of a bomb.
This „sketch“ dating from Monday morning is however „outdated“ and has been „largely modified“, quickly reacted in a statement the two victorious outgoing formations – but obliged to join forces to have a majority – the parliamentary elections of the March 4th.
Among the many measures listed in the 39-page document is the introduction of „technical measures of an economic and legal nature that allow member states to leave the monetary union, and thus regain their monetary sovereignty“.
A passage also mentions the possibility of asking the European Central Bank (ECB), led by the Italian Mario Draghi, to cancel some 250 billion euros of Italian debt held in the form of government securities by the institution of Frankfurt.
Another measure advocated was the creation of a „conciliation committee“, a party-related structure parallel to the government, to settle any disagreements between the two political forces.
As soon as it was published, the text provoked an avalanche of reactions in the press, journalists and experts criticizing in particular its „naivety“.
„Destroy Italy to harm Europe“, commented the daily La Repubblica, close to the left.
For Lorenzo Codogno, former chief economist of the Italian Treasury and now head of LC Macro Advisors; the inventory of measurements reveals „the quirk, the inexperience and the offbeat side of the two formations“.
The financial markets did not appreciate either: the Milan Stock Exchange lost 2.5% in the early afternoon while the spread – the gap very observed in Italy between the Italian and German ten-year loan rates years approached 150 points, against 131 points Tuesday night.
– „Barbarians“ rather than „stooges“ –
In a series of videos posted on their Facebook accounts, the leaders of both parties promised to present their future agreement to the Italians this weekend on stands installed across the peninsula. The text should also be submitted to activists, on the internet for the M5S, on the stands for the League.
The two groups tried to calm the spirits Wednesday by explaining that many points in the text mentioned in the press had „radically changed“ especially on the euro, their decision being „not to question the single currency.“
Mr Salvini rejected these criticisms and the „insults“ of the press, referring in particular to a title in the Financial Times on the entry into Rome of „modern barbarians“.
The head of the League, Matteo Salvini in Rome, May 14, 2018
„It’s better for barbarians than for rogues who sell the dignity, the future, the companies and even the borders of Italy – the Italians first!“, He said.
After discussing the need for a „confrontation“ with the European Union in a previous message Tuesday night, the ally of the French National Front recalled its ambitions in immigration, a theme „hot“ in the discussions.
„There is a future here for good people but for the thousands of offenders there is only one way: to go home,“ he insisted.
The League wants to accelerate the examination of asylum applications, expel foreign prisoners „who cost us the eye of the head“ and cut in the budget of nearly 5 billion euros allocated in recent years to rescue at sea and the reception of asylum seekers „to put some money on repatriation“.
In a statement, the neo-fascist CasaPound movement praised „the strong potential“ of the possible alliance, denounced „the vile and terrorist reaction of the media“ and called both formations to show „a lot of courage“.