Talk increases of second Monti government in Italy
* Politicians want return to normal democracy
CERNOBBIO: Business leaders and European officials cloistered in a beautiful lakeside resort over the weekend were in striking agreement about who should follow Mario Monti as Italian premier.
Uncertainty about what will follow Monti’s technocrat government after elections next spring is worrying investors, who fear a new government led by elected politicians will try to tear up the painful reforms that have restored Italy’s credibility under Monti.
Among the elite gathered at the annual Cernobbio conference, the solution seemed obvious - a “Monti-bis” or “Monti-two” government, despite the fact that the man himself has consistently denied he is available. Outside the luxury precincts of the Grand Hotel Villa d’Este sentiments are rather different, with a majority of ordinary Italians and politicians highly suspicious of the idea. However, bankers and businessmen inside queued up to praise the sober economist’s work, which pulled Italy back from the brink of a Greek-style debt crisis after President Giorgio Napolitano appointed him to replace scandal-plagued Silvio Berlusconi last November.
Enrico Cucchiani, CEO of Intesa SanPaolo bank said it was essential that Monti stayed on. “I believe this is not only fundamental but extremely probable in the sense that alternative solutions could imply big risks for the country,” he said. More than 80 percent of the 137 bankers, businessmen and senior academics attending the meeting on the shores of Lake Como want Monti to continue his reforms next year and prevent backsliding under Italy’s squabbling politicians, according to a survey by the Italian news agency Radiocor. The atmosphere inside the hotel produced ironic headlines in some Italian newspapers, which, like politicians, accused the elites of trying to replace democracy. “Monti bis. It is already all decided,” said the leftwing il Fatto Quotidiano. “The millionaires’ club has decided. We must undercut this absurd demand that the people want to decide their future - we are in charge here,” said Berlusconi’s il Giornale under the headline: “All Monti’s slaves.”
The conference at Cernobbio can be vulnerable to the accusation that the participants are a bunch of hyper-rich elitists out of touch with the real world. The gathering is in a spectacular location on the edge of a lake dotted with millionaires’ villas including that of Hollywood actor George Clooney. This can cause resentment, even in the prosperous area of Como itself. reuters
CERNOBBIO: Business leaders and European officials cloistered in a beautiful lakeside resort over the weekend were in striking agreement about who should follow Mario Monti as Italian premier.
Uncertainty about what will follow Monti’s technocrat government after elections next spring is worrying investors, who fear a new government led by elected politicians will try to tear up the painful reforms that have restored Italy’s credibility under Monti.
Among the elite gathered at the annual Cernobbio conference, the solution seemed obvious - a “Monti-bis” or “Monti-two” government, despite the fact that the man himself has consistently denied he is available. Outside the luxury precincts of the Grand Hotel Villa d’Este sentiments are rather different, with a majority of ordinary Italians and politicians highly suspicious of the idea. However, bankers and businessmen inside queued up to praise the sober economist’s work, which pulled Italy back from the brink of a Greek-style debt crisis after President Giorgio Napolitano appointed him to replace scandal-plagued Silvio Berlusconi last November.
Enrico Cucchiani, CEO of Intesa SanPaolo bank said it was essential that Monti stayed on. “I believe this is not only fundamental but extremely probable in the sense that alternative solutions could imply big risks for the country,” he said. More than 80 percent of the 137 bankers, businessmen and senior academics attending the meeting on the shores of Lake Como want Monti to continue his reforms next year and prevent backsliding under Italy’s squabbling politicians, according to a survey by the Italian news agency Radiocor. The atmosphere inside the hotel produced ironic headlines in some Italian newspapers, which, like politicians, accused the elites of trying to replace democracy. “Monti bis. It is already all decided,” said the leftwing il Fatto Quotidiano. “The millionaires’ club has decided. We must undercut this absurd demand that the people want to decide their future - we are in charge here,” said Berlusconi’s il Giornale under the headline: “All Monti’s slaves.”
The conference at Cernobbio can be vulnerable to the accusation that the participants are a bunch of hyper-rich elitists out of touch with the real world. The gathering is in a spectacular location on the edge of a lake dotted with millionaires’ villas including that of Hollywood actor George Clooney. This can cause resentment, even in the prosperous area of Como itself. reuters
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