“Either change the Euro or we will have to get out of it”. In memory of Silvio Berlusconi, his words in 2014
On this day, here is a small reminder of an interview with Radio Anch'io by Silvio Berlusconi in May 2014, in which he spoke bluntly about the EU's monetary policy in relation to Italy's needs. We were experiencing the Euro debt crisis, just before the heart of the Greek crisis of 2015. The ECB was looking for a way out of an explosive situation that would lead to the end of everything, without the “Whatever it takes”. Here's what he thought Berlusconi of the Euro:
“The idea that is emerging in the French government of a devaluation of the euro against the dollar is an idea that I think absolutely deserves support. Monetary policy must be changed through the role of the ECB which, in addition to the mission of controlling and fighting inflation, must also have the mission of guaranteeing the sovereign debts of states, of printing money and of injecting funds into the economy. The nations that have come out better from the crisis have done this.
In the US, the Federal Reserve has injected $55 billion a month into the economy, which has led to GDP growth of more than eight percent and a reduction in unemployment to 6 percent. Exiting the euro today would be adventurous because nobody knows what the consequences would be, but if we fail to change the policy of the ECB and the European Union, it will be reality that imposes on us, on France, on Greece, on Ireland, to Portugal, the exit from the euro to return to our national currency. Let us give ourselves the time and determination to deal decisively with Germany. As regards the changeover from the lira to the euro, it was accepted by Prodi and Ciampi, therefore my government in 2001 found itself faced with a decision that had already been taken and therefore it was impossible for us to intervene. ”
“In order to restart growth and development, internal decisions are not enough, there needs to be an intervention by European politics, with a strong change in monetary policy. There are also precise situations, such as that of the 3 per cent deficit and that of the fiscal compact, on which we must demand a moratorium or even the elimination, for example of the fiscal compact, because the conditions of the economy have changed compared to when these two situations have been decided and we must use the moratorium to decrease taxes .
Sic Transit Gloria Mundi
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The article "Either change the Euro or we'll have to get out of it". In memory of Silvio Berlusconi, his words in 2014 come from Scenari Economici .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/o-cambia-leuro-o-dovremo-uscirne-in-ricordo-di-silvio-berlusconi-le-sue-parole-nel-2014/ on Mon, 12 Jun 2023 14:59:37 +0000.