Quirinale: Bloomberg and FT cheer for Draghi al Colle, but foreign newspapers are divided

The hypothesis of the current Prime Minister al Colle pleases the American agency and the British newspaper, which underline the success of the vaccination campaign and the possibility for the premier to guarantee the path of the reforms he initiated. Against the Economist, who fears the risk of a “blockade of funds from Brussels”, and the French Les Echos, according to which “the populist parties will regain the power to harm that he had been able to contain”

While the votes for the next President of the Republic continue (THE SPECIAL – THE POLL – THE CURIOSITIES – ALL THE LIVE UPDATES), the Prime Minister Mario Draghi sends a signal of availability by meeting the leaders of the parties, net of discussions that would be centered especially on how not to put the government at risk in the event of its move to the Quirinale. And several newspapers from abroad, from the British Financial Times to French Les Echosexplain why Draghi al Colle could be the winning choice or, on the contrary, why it should keep its current role.

Financial Times: “The Draghi Dilemma”

The Financial Times headlines his analysis The Draghi dilemma: the Italian presidential election risks turbulence. According to the British economic-financial daily, the current Prime Minister dal Colle could guarantee the path of reforms, while if he were not elected his role as prime minister would be weakened. “Draghi presented Italian politicians with a dilemma – writes the daily – whether to keep their country’s most famous technocrat as prime minister, allowing him to go ahead with an ambitious EU-funded reform program, or to elevate him to head of state, triggering potentially a paralyzing crisis for a successor to lead the government “. “Since his arrival in the government – recalls the daily – Draghi has revitalized the confidence of markets and investors thanks to a successful vaccination campaign and expansionary budget policies to accelerate the economic recovery. Draghi has designed an ambitious program of structural reforms to improve the long-term growth trajectory after decades of stagnation “. “But a divisive presidential election that should cause a political crisis would worry Brussels and the financial markets – notes the Financial Times – From the Quirinale, Draghi could use his powers and authority to make sure future governments keep reforms on track. If the government coalition were to decide not to elect him to the Presidency of the Republic, Draghi’s role would be scratched “.

Bloomberg: “As prime minister, he risks being dragged into political infighting”

Opinion similar to that of the American Bloomberg, who notes: “Draghi was in government for almost a year: he drove the Italian economy to achieve a growth rate of 6.3%, organized one of the most successful vaccination campaigns in Europe, initiated reforms to tackle Italy’s structural problems, such as excessive bureaucracy and a slow judicial system. Draghi may believe that the best way to preserve the results of his government action in the future is to become President of the Republic, a role that lasts seven years. ” According to the economic agency, “Italian presidents have many more powers than they seem. The spread between Bund and BTP has not moved much for now, probably because the markets expect that Draghi will not leave the political scene”. But the momentum of the Draghi government, he notes, “could quickly dissipate if he were succeeded by a less effective prime minister who does not have the influence of the former head of the European Central Bank at home and abroad. This could jeopardize access. of the country to over 200 billion euros in grants and loans available from the European Union’s pandemic recovery fund “. For Bloombergthe prime minister “could bet that his chances of cementing his legacy are better if he swaps the position of premier with the presidency, who has a 7-year term. If he keeps his current job, he risks being dragged along. in the quagmire of political infighting, as happened to Mario Monti, another respected technocrat. And while he is highly regarded for his heroic defense of the euro during the European debt crisis and boasting high approval ratings, Draghi is unlikely to seek a popular mandate in national elections which should take place by June 2023 “.

The Economist: “Draghi at the Quirinale negative for Italy and Europe”

The weekly is of a completely different opinion The Economistwhich publishes an article titled Mario Draghi’s attempt to become president is negative for Italy and Europe. “Draghi’s government has started well to implement the reforms and investments necessary to absorb liquidity productively – it says – But his barely disguised desire to leave” Palazzo Chigi for the Quirinale “puts him at risk. If he comes elected, it will be difficult to find a successor able to hold together the current ideologically heterogeneous coalition. If he is not, his position “will be weaker. The move to Colle di Draghi, observes the weekly, “will interrupt a government that is functioning well”. Recalling that the premier “presided over almost 12 months of unusual calm and unity in Italian politics”, the article explains that among the fears now there is what Draghi’s election to the Quirinale could lead to early voting. A hypothesis that theEconomist he considered it unlikely, recalling the risk of MEPs losing their pension rights. “A more probable scenario – we read – is that a government will be formed that will succeed Draghi’s and that will try to limp past the deadline before collapsing at some point not too far from the natural end of the legislature, in March 2023”. The danger, however, according to theEconomist, is that a post-Draghi government “can do very little. Assuming a replacement can be found, he or she is unlikely to enjoy anything like the support Draghi currently enjoys, not least because the political parties that currently support him. they will want to start positioning themselves for the next elections “, each going in his own direction. “And yet – it continues – the work on reforms is still long and, if it stops, the flow of funds from Brussels can also be blocked”.

Les Echos: “Regret to see a captain abandon his ship”

The French newspaper thinks so too Les Echoswhich opens its editorial entitled Italy without its guarantor with the phrase: “He will have done everything possible to save the euro, but not necessarily his homeland”. “Glorified for the action of him at the helm of the ECB-he writes Les Echos – Mario Draghi is ready to leave the presidency of the Italian Council one year in advance for that, more symbolic in a different way, of the country. For him it is the dream of a lifetime, the consecration of a path without errors that opens the doors of the Quirinale, a palace in which thirty popes and Napoleon preceded him. Behind the legitimate aspiration of a 74-year-old man, however, there is an immense regret, that of seeing a captain abandon his ship in full rescue operation. His 11 months at the helm have produced quite spectacular results, in a country that has recently known so few: Italy is now one of the best vaccinated countries in the world, showing an economic recovery that is greater than that of Germany and France. . But everything leads one to believe that market confidence will not survive the probable exit of its prime minister. He alone seemed capable of reabsorbing, or at least making people forget that mountain of debt, over 150% of GDP, which threatens the peninsula. The Draghi effect already seems to fade: the famous spread, which gives a good indication of the difficulty of a country to finance itself on the markets, has returned to its level of two years ago “. Les Echos“even if Mario Draghi nominates a technical government to avoid early elections, the populist parties will regain the power to harm that he had been able to contain. The hope, of course, is that Mario Draghi will transform the presidential function to give it a more active role, in the limits of the fundamental law “.

Novaya Gazeta: “Silvio will not return”

The independent Russian periodical, on the other hand, speaks only marginally of Draghi Novaya Gazetawhich only titled Silvio will not return. An article in which the bonds of friendship between Silvio Berlusconi and Russian President Vladimir Putin are repeatedly underlined. “‘Putin’s friend’ – underlines the newspaper – is perhaps the most famous Italian politician in Russia. Silvio Berlusconi, at first unexpectedly returned to big politics, waited for months and at the last moment refused to participate in the His main rival, incumbent Prime Minister Mario Draghi, is a favorite of the center-left, but his move from prime minister to president could cause a crisis in the government. And now the question of who will move to the presidential palace of the Quirinale is only getting more complicated “. Novaya Gazeta he points out that Berlusconi “is known in Russia for his long-standing friendship with President Vladimir Putin”. The two, the article adds, “have been in contact since the early 2000s and regularly congratulate each other for the holidays. Berlusconi calls Putin ‘my friend’, and even the Russian president underlines the friendly nature of their relationship” .