I tell you what I think of the Draghi government. Sapelli’s analysis
The Draghi government seen by Giulio Sapelli, historian and economist. The article by Francesco Lommi
Why Mario Draghi at Palazzo Chigi? What will be the prime minister's geopolitical and economic policy approach? And what are the challenges of the government led by the former ECB president?
Here is what Giulio Sapelli, historian and economist, thinks.
WHY DRAGONS?
In interviews and articles Giulio Sapelli in these days explained the reasons that led Mario Draghi to Palazzo Chigi. The government crisis was caused by Matteo Renzi who criticized the lack of a clear plan for the use of funds destined for Italy by the so-called European Recovery Fund. "The international press had for some time now continued to underline that the Italian decision-making and strategic crisis was putting at risk what could be generated thanks to the mutualization of the debt – according to Sapelli – Italy, until now, has not presented the program that all are waiting and that many states have already prepared: a program of investments, of streamlined and rapid procedures, of construction sites. A chrono-program also including the expected expense balances ". And in this sense Draghi gives the utmost confidence in such a critical phase.
In the change of EU policies, Sapelli then reads the weight of German industrialists who are increasingly worried about the lack of a strong centralized direction of the European economic system. And from here, too, support for Draghi's appointment: "The president of the ECB enjoys strong credibility both towards Joe Biden's new United States and towards the Germans, who have learned to know and appreciate him as an implacable negotiator" .
THE THREAD THAT LINKS THE ITALIAN INDUSTRY TO THE GERMAN ONE
According to the historian and economist, “the Germans have now convinced themselves to come to terms with the reality that Draghi represents, driven by the needs of their own production machine”, underlining the close relationship that binds the industrial destinies of Italy and Germany. And he adds "Let's go back to capitalist centralization: the point is not to collapse the supply, the supply chain of Veneto, of Emilia to save German industry". In short, the established relationship between Italy and Germany must be considered, which has 40 years of interconnection and cannot be easily replaced. Beijing, while aspiring to be more and more world economic power, expression of a regime in which Xi Jinping accentuates the squeeze against the capitalists who grew up in China with Deng Xiaoping (Sapelli and Lodovico Festa discuss it in depth in this video for Start Magazine ) for the the excessive instability of its market would not guarantee Germany the certainties and quality consolidated by Italian production. Sapelli also explains that also in this sense we can read the rapid defeat of Giuseppe Conte: "The end of the Conte government is the precondition for the production chains that link Italy to world industry and to transactional logistic flows not to be interrupted".
THE ECOLOGICAL TRANSITION, ECONOMIC DEVELOPMENT AND THE RETURN TO DEMOCRACY
Sapelli identifies in the ministries for ecological transition and economic development (of which he speaks extensively in his new book "In world history: states, markets, wars" and in this episode of the dialogues with Festa ) the main fields where the game will be played for the relaunch of the country: “A minister like Giancarlo Giorgetti and the Lega, the only party still with a territorial settlement, want a transition that respects economic development. On the other hand there is the magical belief in the unfortunate decrease of 5 gods and Pd ”. In short: "Establishing which path to take will be a relevant political choice". And again, on the fundamental role of the Minister for Ecological Transition, Sapelli explains how, basically, the technocrats of the European Union did not want that ministry to take off because they asked that everything be in the hands of Brussels: "When it is created, the EU technocrats and the Spaniards demand that that ministry be closed because they wanted everything to be in the hands of Brussels. This ministry is therefore not a favor to Europe but a challenge to European technocracy ”.
Finally Sapelli highlights the marked differences between the Monti government and this new technical government led by Draghi: “Draghi before a technician is a political goal. This is not a Monti government. It is not a government of austerity but of spending and refounding the state. Only note: they think they can succeed without politics, but politics will return ”.
And precisely with regard to the return of politics, Sapelli asks that an expiry date be defined for this mandate: "Then we will think about how best to reorganize the economic and social recovery and the fullness of parliamentary life, which must remain the fulcrum, despite the new appointment of an unelected premier, of the circulation of political classes in Italy, under penalty of the end of the Republic. Hence the need to define as clearly as possible the ways and times in which the emergency is exercised and will be exercised and in which it will be possible to return to a fully legitimated, as well as fully efficient, democratic political system ”.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/mondo/che-cosa-penso-del-governo-draghi-analisi-di-sapelli/ on Wed, 17 Feb 2021 06:20:23 +0000.