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29 April 2013

EUobserver: Italy forms coalition government amid economic tension


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Italian leader Enrico Letta's team of ministers was approved by parliament on Monday 29 April, amid warnings that Rome may have to seek financial aid from the ECB. (Includes letters of congratulation from Presidents van Rompuy, Barroso and Schulz.)


The 46-year old Prime Minister formed his coalition cabinet on Sunday, ending two months of political deadlock after inconclusive elections in February. Comprising ministers from both the centre-left and the centre-right party of former leader Silvio Berlusconi, the cabinet also includes Italy's first black female minister. In charge of foreign affairs is another woman, Emma Bonino, a former EU commissioner and member of the European Parliament. Letta's team comprises a record seven women ministers

A statement by rating agency Moody's top man on Italy, Dietmar Hornung - who said Italy might have to seek financial assistance from the ECB - also rang alarm bells over the state of the country's economy.

Italy, the third-largest economy of the eurozone, is plagued by economic contraction, high unemployment and high public debt, which pushed it several times to unsustainable lending rates, prompting speculation on a potential bailout.

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President van Rompuy congratulated Prime Minister Enrico Letta on the formation of the new government of Italy:

On behalf of the European Union and personally I would like to warmly congratulate Prime Minister Enrico Letta on the formation of the new government. I am sure that under his leadership there will be a strong impetus for political stability in Italy.

I would also like to convey to Prime Minister Letta that he and his government will have full support from the European institutions for the continuation of the necessary reforms for growth and jobs, whilst respecting sound public finances, that Italy has embarked upon.

The EU will continue to stand by Italy in pursuing our common commitment to overcome the economic crisis and promoting growth and jobs.

Press release, 28.4.13 © European Council


After the successful vote of confidence in both chambers of the Italian Parliament, President Barroso congratulated Enrico Letta on his appointment as Prime Minister and on the formation of a new government.

The President said that the launch of this new phase in Italian politics and the start of work by the new government come at a crucial time for European integration. He added that he is looking forward to Prime Minister Letta's contribution to the deepening of the economic, monetary and political integration of the European Union.

On Italy's economic strategy, President Barroso said: "I am also certain that I can rely on your commitment to carry on the process of necessary reforms so that together Europe’s citizens are able to cope with the challenges posed by the crisis by working towards restoring growth and jobs."

He concluded by expressing his confidence that that the relations between the new Italian government and the European Commission will prove to be rewarding and constructive.

"I wish you every success with your newly assumed responsibilities".

Read the whole message, 30.4.13 © European Commission


Commenting on the vote of confidence given to the Letta government, the President of the European Parliament Martin Schulz stated:

"I congratulate the President of the Council of Ministers of Italy Enrico Letta and his government. I hope that this will mark the end of the stalemate which followed after the February elections, and I hope that Italy will get back to play the role it deserves in the European context.

As stated by the Prime Minister in his speech before the chambers, austerity is suffocating not only Italy, but also many eurozone countries. Urgent measures are needed to give oxygen to the economy and give-back hope to young people: measures that the European Parliament has been calling for since the beginning of the crisis. Today, more than ever, Europe needs a bold Italy, that brings to the fore its deeply-rooted European tradition, to rethink, strengthen and restore the legitimacy of our Union."

Press release, 30.4.13 © European Parliament



© EUobserver.com


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