VILLAGES: TODAY HISTORY PASSES NEAR US. NOW YOU ALL KNOW WHAT THE MES REFORM IS, YOU WILL NO LONGER HAVE ALIBI (with text from the Chamber’s report)
Now we are at the end. Today the M5s will also sign the mandate to Conte for the Reform of the MES. Claudio Borghi, in his speech, summarizes the passages of the MES and its hottest content, article by article, so that there is no alibi for those who vote "Yes", so that no one can say, in the future, "I did not know", "They didn't explain to me." Claudio Borghi was extremely clear on the contents:
- the possibility of the ESM to decide, motu proprio , if a debt is “Solvable” or not, thus sending a country into default;
- on the possibility of requesting the payment of 110 billion in 7 days;
- absolute superiority to any law of both the ESM and all its officials;
- on the possibility that the new securities issued can be easily restructured, ie sent into default;
- on the fact that France and Germany have reserved a right of veto which has been denied to Italy.
All this, and much more, is contained in what Conte will sign at the next Council. An incredibly disadvantageous treaty for Italy, but the Five Star Movement has now decided to betray, and must carry out its decision to the end.
We thank Inreverent. Below the video the speech with shorthand report
CLAUDIO BORGHI (LEGA). Mr President, I will try to be as clear and as concise as possible, because this session is not a normal session of Parliament. This is the first time that many of us will be able to vote for something meaningful. This is one of the first times in which history passes by and it is not a speech full of nothing, like what the President has done up to now, to be the point (Applause from the deputies of the Lega-Salvini Premier group). The point is the one that will be approved in the European Council, the one he did not speak about for the millionth time, namely the reform of the ESM. So let's talk about it here, in such a way that no one in this House will then be able to invoke the: 'but I did not know'. No one should have this justification and forgive me President, but as a premise of the speech I am about to make, there is a point that must be clarified once and for all. That is to say, if we are here today to decide what mandate to give to the President, there is someone who, in the absence of this mandate, has gone to the European Union and has already given the consent for our country (Applause from the deputies of the Lega-Salvini Premier group – From the benches of the Lega-Salvini Premier group: Shame ) ! Let's stop making fun of us! But, and I hope that President Mattarella hears me from here, it is possible that the Minister of Economy on such an important and serious issue has gone to the European Union, to the Eurogroup to give Italy's assent to a reform like that of the ESM without any kind of parliamentary mandate? But can this happen in a normal country? But sorry, it is not that there was no time before to have a meeting here in Parliament in which to discuss seriously, seriously, not in two words, the reform of the ESM in order to give a full mandate to our Minister, because I remind you that, in the previous three weeks, one week there was talk of homophobia and transphobia, another week …
PRESIDENT . Deputy Sasso …
CLAUDIO BORGHI (LEGA). … there was talk of the law on illegal immigrants and another took a vacation: therefore, there was probably time, there was no talk of anything and the Minister, nevertheless, took and went to Europe and gave the 'assent for Italy to such a fundamental reform as that of the MES, about which we have learned to read in the newspapers that there are obviously non-linear and incomplete positions in the majority, because, if until yesterday they held discussions to decide that position to take, the point of fall, perhaps this position was not there, it was not delineated and therefore what the heck did that gentleman go to do there in Europe? Remember: infidelity in state affairs, treason, are prescribed in fifteen years and many things change in fifteen years. We saw that President Sarkozy was indicted yesterday, many things have changed in fifteen years. Honestly, if it were necessary to try to return to normalcy, the delegations to Minister Gualtieri should be removed immediately (Applause from the deputies of the Lega-Salvini Premier group).
In addition, let's clear another topic right away at the beginning, namely the confusion between the activation of the ESM and the reform, which is particularly stinging when heard from people like Di Maio who had always been fully informed of the matter, because the reform of the MES does not need any activation, it activates itself. If the reform of the ESM is approved, the clauses on government bonds are stamped before any vote, without the need for any vote by Parliament and the banking common backstop , the one the President is proud of, is not an Italian success: it is a what Germany asked for; so much so that has anyone here ever heard of the great Italian position or the desire to have a common backstop on the banking system? But when ever, when ever? This is stuff that came from heaven in December, without anyone knowing, why? Certainly not because of Italy's strenuous battle but because Germany wants it! And we put on our hat, we want it too! Ah! These classrooms that have seen much better (Applause from the deputies of the Lega-Salvini Premier group) than someone who gets to put his hat on things asked by those who have interests opposite to ours!
Okay, now let's talk clearly about this reform – at least for all those who listen to us from home and those in this House who, despite years of debate, have not yet understood what it is – and then let's see if you can even think of approving it.
Let us remember, also for the benefit of those who intervened first, the history of this reform which – it is true – began with the yellow-green government. Parliament's knowledge of the text of this reform began on 12 June 2019, i.e. two days before a Eurogroup, the one that Minister Tria went to. And it just started in an absolutely clean and straightforward way for a Western Parliament. I remind you of what happened – I said it once and I have not been proven wrong, because there is no denying it – but I do remind you, in case you have missed it in the past.
On 12 June 2019, the head of the cabinet of President Conte, Dr. Goracci, secretly called four people, specifically the deputy Garavaglia, Senator Bagnai, Deputy Minister Laura Castelli and an assistant to Undersecretary Fraccaro. He called them to Palazzo Chigi in a closed room, ordering them not to take pictures and not to take notes, showing the text, also in English, of the new MES treaty. “You can look at it a bit like this, in the meantime, please don't take pictures”. Here, with this beautiful and transparent system, a mandate had to be given for the Eurogroup of the 14th, with a Minister who, unfortunately, was also reluctant to come to Parliament to talk about these things: after all, you can see the modalities . Note: no one gets up to say that it is not so, because it is (Applause from the deputies of the Lega-Salvini Premier group) !
On the 14th, unfortunately, despite the precise mandate that was given to the then Minister, who now has crises of forgetfulness – that is the mandate to say "this thing is not in Italy's interest, this reform is absurd, it divides into good and bad guys, we are among the bad guys ”, so there was a mandate to block her immediately – the Minister blocked nothing. I still have here all the dialogues made at the time with senior members of the 5 Star Movement, who now go to approve this maneuver and, at the time, the comment on this beautiful result not obtained by our Minister of Economy – which was a other, but evidently that place clears the intellectual abilities, I don't know (Applause from the deputies of the Lega-Salvini Premier group) – it was the following. This person, who is sitting there now on these benches, said: “I have never been so angry and disappointed in my life because, against our mandate, the Minister has not opposed”; I have it here.
And then, at that point, the alarm starts between us and the leaders of the 5 Star Movement, saying "he did not oppose, Conte must oppose: we have time from the Eurogroup to the Euro Summit to block this reform that is not in the interest of Italy ".
At that point the Molinari and D'Uva resolution was approved, the one that required the President not to approve the European Stability Mechanism and – coincidentally – the President also went there and approved everything, inventing the package logic and this package logic obviously it was received only by inserting the word "package" in the final press release, but the text did not change one iota; this is to say with what tenacity and with what aggression our President went to defend Italy's interests, against the specific mandate – this time – of Parliament, because for the Eurogroup we had to communicate with Tria for short periods; for the Parliament all of you and D'Uva, just go and hear what the intervention was: “With this reform we must not proceed further”, said the Honorable D'Uva; here we must not proceed further, and he went there and approved (Applause of the deputies of the Lega-Salvini Premier group) . So, let's remember the mark of betrayal, because it must always be remembered; and let's see what he approved, because – I repeat – in soundness of mind one can approve these things? Let's take the ESM Treaty, let's read it. Point 11 of the premises: "Collective action clauses" means that each title of our debt will be stamped with what I call the "scarlet letter", meaning the possibility of being restructured – which sounds like a nice word, but it means default – easier. But, in your opinion, if you put action clauses to make it easier to default, that's a good thing, is it a good result? I heard someone say: "Eh, from the parties of the majority it is a very good result because this prevents hedge funds from getting to block the procedure", but luckily a hedge fund could block the procedure, because it must not be possible restructuring the public debt. Are we joking? Public debt must be risk-free (Applause from the deputies of the Lega-Salvini Premier group) : any rule, anything that includes even just the restructuring of the public debt, that is to say, default is a gun aimed at the temple of savers, so as said, not by me, not by a sovereignist, but by Professor Giampaolo Galli. Point 12 a) of the premises: “The ESM is the one that evaluates the repayment capacity of the States”; therefore it means that the ESM can decide that a state is not considered safe, it communicates it and automatically that state will become so, because a signal in this sense is enough to the markets and, you know, without the protection net of the European Central Bank, crises they come true, so we give one the chance to say: "Italy's debt is not sustainable, we have put in place the clauses to make the debt restructurable" and here we are going to shoot ourselves into the Greek crisis – bis for Italy . Point 12 b) of the premises: “adequate form of participation in the private sector”, ie default ; those with government bonds are expected to suffer losses – it is written in black and white -, and we have 80 percent of our public debt in our hands – Germany has 20 percent of the public debt in domestic hands – , therefore, we are predicting that all our savers, banks, insurance companies and so on may happily suffer losses because, at some point, something may happen that is wrong with our public debt; 3 trillion in debt? But yes, lightly, here, in a little speech, on Wednesday we talk about these little things. Point 13 of the premises: “The ESM is a privileged creditor”, as is the International Monetary Fund. Article 1: “The ESM can assess the sustainability of the public debt of the Member States” and here we return to the point we were earlier, that is, the ESM is given the possibility to go and review which debts are sustainable or not, and to announce it. Article 5: "qualified majority", the qualified majority is with 80 percent of the votes cast, and here I am sure that Italy will therefore have the possibility of being able to put the right of veto, because in short, it is an important country, a founding country, we have such serious presidents, so serious ministers that they go to fight for us.
Well, do you know what Italy's share is in the MES fund? Too bad, it's 18 percent. And, however, in case one wants to have doubts, remember that 20% is used to block the qualified majority, you wonder what is France's share? Come on, you can do it: 20.3 (Applause from the deputies of the Lega-Salvini Premier group) . So, we are going to sign something, where the power of veto have it France and Germany and Italy not. But let's be smart, we fought, it's something that comes to our interest. And how not! Are the Director General and the staff of the ESM only responsible to the ESM? Well, very comfortable, who wouldn't want it? Article 8: 704 billion of callable capital. Therefore, the share for Italy is 125 billion (15 paid). Therefore, it means that there are still 110 billion of capital, to which Italy has committed itself and which can be called up. But how can they be recalled? Ah, well, that's what Article 9 takes care of. Article 9: The director can request that the unpaid shares – therefore 110 billion for Italy – can be paid within seven days of the request. Therefore, we undertake to pay 110 billion unconditionally, irrevocably, seven days after the phone call from a gentleman who is responsible only to himself. But are we crazy (Applause from the deputies of the Lega-Salvini Premier group) ?
Article 14: Two types of credit lines are established, one for the good and one for the bad. In your opinion, which side are we on? You always come back … The fiscal compact rules that had come out of the door re-enter through the window, those against which the grillini had constantly and deservedly hurled themselves, because I was defending their battle. The rules are back: deficit at 3 per cent, debt at 60 per cent of GDP or reduction of the differential from 60 per cent by one twentieth a year. In your opinion, who is the furthest away from this goal? So who's the one to get tax cuts, pension cuts…?
PRESIDENT . Conclude.
CLAUDIO BORGHI (LEGA). Yes, no, do I conclude? There is still a good list. Anyway, yes, I conclude. Article 18 a) : backstop to banks. This great achievement! But, sorry, let me understand: a great result? But why? But do the banks in Italy have any problems? It seems to me that the banks in Italy have been paid and remedied by the bail-in of savers. And, instead, obviously someone else, perhaps, has these problems and, therefore, could use the money from the ESM – that is to say our money, those that can be called up by phone – to heal his banks.
Article 32: the assets and availability owned by the MES enjoy immunity from any form of jurisdiction! But can you imagine? Immunity from any form of jurisdiction! The archives are inviolable, the general manager and administrators and all staff enjoy immunity from jurisdiction. But think how wonderful! Do we give someone who enjoys immunity from any jurisdiction the possibility of calling 110 billion of our money, to pay the German banks or to cancel our public debt? But what are we doing? But are we kidding (Applause from the deputies of the Lega-Salvini Premier group) ?
PRESIDENT . Deputy Claudio Borghi, he must conclude, the time is up.
CLAUDIO BORGHI (LEGA). Yes, sorry, I conclude, President. Because you will remember that the general manager, who has these powers and who can do this, was what he said about the Greeks: I don't care if they are hungry, as long as they pay. It is in the interceptions of Varoufakis. That's what it says: don't pay pensions and pay back the money. And I'm always talking about what he said to the Greeks at the time. Here, we leave this person, by chance German, the possibility of doing whatever he wants with our country.
Friends, – and here I really conclude – history passes once. We have all entered this Parliament with the hope of changing the world and – I turn to you of the 5 Star MoVement -, once you have the opportunity to do something really important, which is not the amendments to the budget law, one thing against which you, before all the others, and the League …
PRESIDENT . MP Claudio Borghi, he must conclude.
CLAUDIO BORGHI (LEGA). … because – yes, sorry, President, I really conclude – he was not voted on at the time of the League, when it was first approved. Now you have a chance to stand in history as someone who defended their country, and what do you do? Do you approve of this mess? Gentlemen, from today there are two lists of names: the patriots remain and those who, on the other hand, will be pointed out, over time, as traitors (Applause of the deputies of the Lega-Salvini Premier group – From the benches of the League one shouts: Traitors! Buffoons! ) .
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The article BORGHI: TODAY HISTORY PASSES NEAR US. NOW YOU ALL KNOW WHAT THE MES REFORM IS, YOU WILL NOT HAVE ANY MORE ALIBI (with text from the Chamber report) comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/borghi-oggi-la-storia-ci-passa-vicino-ora-sapete-tutti-cosa-e-la-riforma-del-mes-non-avrete-piu-alibi/ on Wed, 09 Dec 2020 09:42:06 +0000.