It’s hard to imagine a truly reformist leader in any EU country. The whole block is tied up in so much red tape emanating from Brussels, I doubt any one person or administration can free themselves from all that bureaucracy. The most successful leader in that regard is probably Orban in Hungary and he’s basically ignoring EU law and regulations when it suits him.
Fraser Bailey
3 years ago
Believe me, we don’t believe the media hype. We are not that stupid, won’t get fooled again etc. And, by the way, the seized vaccines were, apparently, destined for Belgium, not Australia. And, even if they were destined for Australia, in what sense is it appropriate that someone seizes goods that have bought and paid for by somebody else. Draghi is a snake, and a very nasty one, just like all those in Brussels.
There was a batch of vaccine which was stopped on its way to Australia from Italy – I think 250,000 doses of Astra Zeneca. There was then a raid at a plant in Italy where the supposed “secret stash” of AZ was found…cue fevered accusations of vaccines being “hidden” etc. Turned out a portion of these “hidden” vaccines were destined for somewhere in the EU (possibly Belgium, I didn’t keep up), the rest for countries outside the EU as part of COVAX. AZ said they were there waiting for quality control. Not sure if I believe that but the whole thing died down again fairly quickly.
David B
3 years ago
Draghi is a dyed-in-the-wool “status-quo”-ist… an alumnus of Goldmans like so many of our global leaders. He will deliver nothing new.
A new depression will be delivered soon enough. (Bloomberg is just the Biden Cheerleader, they are the ‘sheep whisperer’ printed to keep you all calm as the elites prepare to shave off your fleeces before you can run for the hills.)
9/2019, “European Central Bank President Mario Draghi said the Governing Council should be open to ideas like MMT”
MMT, before covid even hit, sounds like Italy is going for modern day Alchemy of turning ones and zeros into gold. Oh, well, it is what USA is doing.
Katharine Eyre
3 years ago
What annoys me about the breathless commentary on Draghi is that all journalists seem to be praising him for taking “a big risk”. Having read this article, I am not even sure whether the risk he is taking is as big as the media makes it sound. However, it is going to take Italy’s debt into never-seen-before territory…which makes the prospect of QE being tapered/interest rates rising that bit hairier.
Funny how when Draghi takes this risk, it is “fabulous”, “the work of a maverick”, “revolutionary” and generally fawned all over. When Boris takes a risk, it is “reckless” or “populist”…or, if the risk turns into a win (see vaccine campaign), attacked at every turn.
Utterly pathetic and completely transparent.
Mark Gourley
3 years ago
Poor Italy deserves better. Another Macron, indeed.
P.J. van den Broeke
3 years ago
Draghi is highly overrated. As Italian minister of Finance he did not show any real effort in solving his country’s bank problems. Draghi for instance knew that Banca Monte dei Paschi di Siena, had a hole of almost 400 million. But did not act upon this. His so called quest to save the Euro by buying all the Italian debt and company debt was just to minimize the yield difference between the Italy’s 10 years yield and that of the Northern European countries. So that Germany could continu his cheap exports to these countries. But by doing so destroying pensions and money held at saving accounts. His latest move is just more of the same unimaginative order. Throwing good money, this time tax money paid by citizens in the Northern parts of Europe, after bad money. Of course it suits the federalist EU civil servants who would love to see their great EU federation been taken on this balloon ride. But just what this policy of Draghi had shown is that it will not solve the real underlying problems.
Phil Bolton
3 years ago
Maybe the reason for the enthusiasm for Draghi is that he is the best of the poor options available ? Can the writer suggest a better alternative ?
Maybe one that was elected not appointed by the EU?
Jeff Andrews
3 years ago
The difference is Macron was elected, Draghi was appointed. In the unlikely event of a meaningful election in Italy and him standing, if nobody voted for him the ECB would just choose somebody worse, for the Italians that is.
It’s hard to imagine a truly reformist leader in any EU country. The whole block is tied up in so much red tape emanating from Brussels, I doubt any one person or administration can free themselves from all that bureaucracy. The most successful leader in that regard is probably Orban in Hungary and he’s basically ignoring EU law and regulations when it suits him.
Believe me, we don’t believe the media hype. We are not that stupid, won’t get fooled again etc. And, by the way, the seized vaccines were, apparently, destined for Belgium, not Australia. And, even if they were destined for Australia, in what sense is it appropriate that someone seizes goods that have bought and paid for by somebody else. Draghi is a snake, and a very nasty one, just like all those in Brussels.
“Believe me, we don’t believe the media hype” I hope you were wearing your mask as you typed that.
There was a batch of vaccine which was stopped on its way to Australia from Italy – I think 250,000 doses of Astra Zeneca. There was then a raid at a plant in Italy where the supposed “secret stash” of AZ was found…cue fevered accusations of vaccines being “hidden” etc. Turned out a portion of these “hidden” vaccines were destined for somewhere in the EU (possibly Belgium, I didn’t keep up), the rest for countries outside the EU as part of COVAX. AZ said they were there waiting for quality control. Not sure if I believe that but the whole thing died down again fairly quickly.
Draghi is a dyed-in-the-wool “status-quo”-ist… an alumnus of Goldmans like so many of our global leaders. He will deliver nothing new.
A new depression will be delivered soon enough. (Bloomberg is just the Biden Cheerleader, they are the ‘sheep whisperer’ printed to keep you all calm as the elites prepare to shave off your fleeces before you can run for the hills.)
9/2019, “European Central Bank President Mario Draghi said the Governing Council should be open to ideas like MMT”
MMT, before covid even hit, sounds like Italy is going for modern day Alchemy of turning ones and zeros into gold. Oh, well, it is what USA is doing.
What annoys me about the breathless commentary on Draghi is that all journalists seem to be praising him for taking “a big risk”. Having read this article, I am not even sure whether the risk he is taking is as big as the media makes it sound. However, it is going to take Italy’s debt into never-seen-before territory…which makes the prospect of QE being tapered/interest rates rising that bit hairier.
Funny how when Draghi takes this risk, it is “fabulous”, “the work of a maverick”, “revolutionary” and generally fawned all over. When Boris takes a risk, it is “reckless” or “populist”…or, if the risk turns into a win (see vaccine campaign), attacked at every turn.
Utterly pathetic and completely transparent.
Poor Italy deserves better. Another Macron, indeed.
Draghi is highly overrated. As Italian minister of Finance he did not show any real effort in solving his country’s bank problems. Draghi for instance knew that Banca Monte dei Paschi di Siena, had a hole of almost 400 million. But did not act upon this. His so called quest to save the Euro by buying all the Italian debt and company debt was just to minimize the yield difference between the Italy’s 10 years yield and that of the Northern European countries. So that Germany could continu his cheap exports to these countries. But by doing so destroying pensions and money held at saving accounts. His latest move is just more of the same unimaginative order. Throwing good money, this time tax money paid by citizens in the Northern parts of Europe, after bad money. Of course it suits the federalist EU civil servants who would love to see their great EU federation been taken on this balloon ride. But just what this policy of Draghi had shown is that it will not solve the real underlying problems.
Maybe the reason for the enthusiasm for Draghi is that he is the best of the poor options available ? Can the writer suggest a better alternative ?
Maybe one that was elected not appointed by the EU?
The difference is Macron was elected, Draghi was appointed. In the unlikely event of a meaningful election in Italy and him standing, if nobody voted for him the ECB would just choose somebody worse, for the Italians that is.