They celebrated the Republic

Today many celebrate the Republic, but they do not realize that the party – to the Republic – someone has already made it to them for some time. But not all at once. Rather, tomo tomo cacchio cacchio, as they say in Naples. And not in a flashy way, as is customary on the 2nd of June of each year, since 1946: with parades, speeches, trumpets and trombones. No: in a reserved way, rather, so as not to attract attention. With a low profile strategy, as they say in London. So the Italians – committed to celebrating the Republic one day a year – did not realize how it was literally "dismantled" in the other three hundred and sixty-four. One year after another, one treaty after another, one constitutional change after another. It seems nice, then, to remember, just today and in single file, all (or almost) the dates of the individual steps through which our beloved nation was substantially (as well as formally) stripped of its sovereign prerogatives. And so, we had, in order:

A) 29.01.1992 : law number 35 which established the privatization of public economic entities and the divestment of state shareholdings from which the substantial privatization of the shares of the Bank of Italy held up to then, by law, from public credit institutions;

B) 07.02.1992 : signature of the Maastricht Treaty establishing the European Union;

C) 07.02.1992 : law no. 82 with which Bankitalia was exempted from the obligation to agree on the discount rate of the money with the Ministry of the Treasury;

D) 10.03.98 : legislative decree no. 43 with which the law nr. 171 of 1965 which allowed the printing of "state notes";

E) 01.01.1999 : debut of the euro in the financial markets;

F) 18.10.2001 : constitutional law no. 3 amending art. 117 of the Constitution: legislative power is exercised by the State and by the Regions in compliance with "the constraints deriving from the EU legal system and international obligations";

G) 01.01.2002 : start of circulation of the euro and the replacement of the Lira as national currency;

H) 13.12.2007 : signature of the Lisbon Treaty;

I) 25.03.2011: ratification, by the European Council, of the amendments to art. 136 of the Lisbon Treaty which allow for the establishment of the ESM, the so-called "State-saving Fund";

L) 20.04.2012 : constitutional law number 1 amending articles 81, 97, 117 and 119 of the Supreme Charter and introducing the aberrant, and unconstitutional, balanced budget in the Constitution;

M) 23.07.2012 : ratification law of the Fiscal Compact (entered into force on 1 January 2013) which establishes the obligation for the Italian State, on the one hand, to communicate ex ante to the Council of the European Union and to the Commission European its public debt issuance plans and, on the other hand, to guarantee automatic corrections with set deadlines when that State is unable to achieve the “agreed” budgetary objectives otherwise; the same intergovernmental treaty ratifies the obligation of a tendential deficit of 0.5 per cent of GDP and of repayment of public debt (where it exceeds 60 per cent of GDP) with a twentieth of the excess part per year;

N) 24.12.2012 : law number 234 which established the "European law" and the "European delegation law" which, in turn, implement d'emblée, no later than February 28 of each year, European standards (over a third of the laws approved each year by “our” Parliament);

O) 24.12.2012 : law number 243 "reinforced", which can only be modified by an absolute majority of the members of each House, implementing the constitutional principle of a balanced budget.

But that's not all. The next bitter morsel to gulp down will be the reform of the ESM. And Europe is in a hurry, as a piece published in Italia Oggi on 03.05.22 reminds us: “In recent weeks the Eurogroup had not sent them to Mario Draghi. In particular, the Italian government was asked to account for the delay in ratifying the reform of the European Stability Mechanism (ESM) in Parliament ”.

Ergo, today June 2 of the year of the Lord 2022 – before uncorking the sparkling wine to celebrate the Republic – write down each of the dates listed above on a notebook. Then read them again calmly. And put the bottle back on ice.

Francesco Carraro

www.francescocarraro.com

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The article They made the party to the Republic comes from ScenariEconomici.it .

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This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/hanno-fatto-la-festa-alla-repubblica/ on Thu, 02 Jun 2022 10:53:36 +0000.