The European Commission has given the nod to Italy's ambitious spending plans and reforms tied to its substantial €194 billion share of the EU post-pandemic recovery fund. This marks a significant win for Prime Minister Giorgia Meloni’s, setting the stage for Brussels to greenlight Italy’s next €16.5 billion tranche, anticipated to arrive by year-end.
Italy, positioned as the largest beneficiary of the €800 billion recovery fund, is spearheading a transformative economic agenda with debt collectively backed by EU member states. Having already received €85.4 billion under the program, the country's trajectory toward modernizing its economy until 2026 is unmistakable.
Without any democratic legitimation the EU Commission is pushing the bloc under the umbrella of a community debt pool with Eurobonds and the ECB to monetize the ever growing subsidy spreading mega machine that is suffocating private initiatives and investments as the crowding out of the free market is threatening the economies last resilience. The Eurozone is bleading out economically. And the transformation of a growing part of the economy into a subsidized silenced fake economy is accelerating the decline.
They are buying time. And by doing so they are pushing the economy over the cliff.
Agreed. Amazes me more people dont see this one coming, as Europe (EU and non EU) is basically broke.
My two sats. .
In Italy, Meloni is mis-characterised in some places as being somehow on the economic right of centre, or politically as some kind of nationalist. I suspect she is neither, and I'm not saying she should either, but arguably, she has played a game utilising this reputation to negotiate a bigger slice of the EU pie, pretending to be a thorn in Brussel's side... All part of the game in the EU...Wonder if she has studied Machiavelli?
EU wise, once the economy has fallen off the cliff, we can be sure the EU will ride to the rescue, "solving" the problems they have created... No doubt increased financial, social and political repression will follow. Dressed up with some nice diversionary tactics, eg Catalonia, CBDC, Gibraltar, "Security", Pan EU ID app, Net Zero, Switzerland, Pandemic Preparedness, "We're all in it together" propaganda etc ..
Worrying times.