ECB President Draghi settles with the government in Rome

ECB President Draghi settles with the government in Rome


ECB President Draghi settles with the government in Rome

| Reading time: 3 minutes

The top Euro Guardian unusually overtly attacks the populist politics of his homeland. A claim is very important to him

MArio Draghi is often suspected in Germany of pursuing monetary policy in the interests of his compatriots. But the President of the European Central Bank (ECB) made clear on Thursday that the new populist government in Rome can not count on him. "The statements of Italian politicians have changed a lot in recent months and we are now waiting for facts," Draghi said coolly. A blatant reckoning with the many Volten, who particularly met the government in Rome since the change of power in June.

Politicians from the two government parties Lega Nord and the Five Star Party have repeatedly stressed in recent weeks that they are looking at the well-being of the Italians and not at the European bureaucrat. In particular, representatives of both parties have seriously debated the fact that they simply want to lift the three-percent rule on new debts. Even the idea to add 20 billion euros extra income to the household through an amnesty for tax evaders was astonishing in the rest of Europe. Rumors that the Finance Minister of Italy should have been several times before the resignation caused unrest.

Accordingly, the important president of the ECB, Draghi, went to court from Rome. "Words have done a lot of damage", he noted that the Italian diversity of ideas was scarce and pointed out that private households and businesses in particular would have to deal with such debates with rising interest rates. The only consolation from the point of view of the European Central Bank: so far there are no contagion effects in other countries.

In fact, in recent weeks only the yields of Italian government bonds have risen when uncertainty has spread to the financial markets. Also on Thursday, the yield on ten-year Italian government bonds rose to 2.85 percent. Sometimes the Italian bonds even increased to 3.25 percent in August.


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