She has reassured markets for now, but trouble lies ahead
Save time by listening to our audio articles as you multitaskShe seems to be solid on Ukraine. She sees Vladimir Putin as the predator he is, not the defender of traditional values that some on the hard right imagine him to be.
Many have seen in Ms Meloni a female version of Viktor Orban, Hungary’s prime minister, who is constantly at loggerheads with the European Union over his regime’s corruption and autocratic tendencies. But she does not seem to be spoiling for a fight with Brussels. As foreign minister she has chosen Antonio Tajani, a former president of the European Parliament.
Ms Meloni’s choice of finance minister has been closely scrutinised. She had wanted a respected central-banker type; and she failed to get one, which is discouraging. But the outcome has still been reasonable; the new minister is Giancarlo Giorgetti, the deputy head of Mr Salvini’s League. Although the League is still viewed as a Eurosceptic party, Mr Giorgetti comes from its pro-business wing.
So far, so relatively reassuring. But as the euro zone heads into probable recession, Italy offers more cause for alarm than any othermember. It stubbornly refuses to grow, and Ms Meloni has yet to present any interesting ideas for changing that. Many observers fret that the reform process, which Mr Draghi did so much to propel, will now slow or reverse into statism and protectionism. Italy’s huge debt burden could grow unbearable if interest rates rise further.
Belgique Dernières Nouvelles, Belgique Actualités
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