The day after the Italian victory in the semi-final of the European football championship, Mrs Merkel's deputy spokesperson glossed over those who asked him for a comment from the Chancellor on the match: «At the moment football is not at the center of your thoughts, you know how it went, that's enough for you». In the moments in which the German selection conceded two goals on the field in Warsaw thanks to Mario Balotelli, also the German delegation in the European headquarters felt the blow thanks to another Mario, the Italian Prime Minister Monti. The fact that Mrs Merkel finally agreed to a spread shield, the creation of a banking union and direct aid to banks from the stabilization vehicle shook the German press and many MEPs almost as much as the 2-1 semi-final shattered the hopes of the eleven coached by Joachim Löw.
In the session of Bundestag yesterday, during which Parliament approved by a large majority the Fiscal Compact and the founding treaty of ESM stabilization fund, the opposition has also gone on the attack, denouncing the paradox for which what was voted yesterday (namely the principle of conditionality for the disbursement of funds to Member States in difficulty and the explicit exclusion of direct aid to institutions of credit by the stabilization vehicle) has already been contradicted, and therefore superseded, the day before by the agreement adopted in Brussels. For the Social Democrats, who also welcomed the signing of a pact for growth, the agreement did not go down completely. For the head of budget policy of the SPD, Carsten Schneider «Italy has won twice: on the football field and in Brussels» given that Mario Monti has succeeded in eliminating the impositions of the Troika (replacing them with a memorandum of understanding) for those countries that from now on want to apply for aid to stabilization vehicles. From the ranks of the Christian Democrats, attempts have been made to minimize, emphasizing that there will always be supervision by the ECB and that it is improper to speak of victories and defeats, given that the agreements are stipulated only for the good of the Euro and the monetary union.
While the CDU downplayed the Kanzlerin defeat, Der Spiegel instead he recounted every detail of his unexpected collapse in a punctual reportage. In particular, he wrote the German weekly, it was the negotiating tactics of Monti (followed by Rajoy and Hollande) that paid off. To avoid a blockage on the growth pact and come back empty-handed, the Chancellor has chosen the lesser evil: the easing of pressure on the Member States, which pay too high interest rates and whose banks will have to be recapitalised. Before easing, however, much water will still have to pass under the bridge, promised Mrs. Merkel. In her communication to Bundestag before the vote, Angela Merkel wanted to emphasize that the banking union and the common supervisory authority will only take place in the medium term. A proposal from the Commission will be drafted by the end of the year. In reality, yesterday's choice sets a precedent, given that the other countries that receive or have received funds from the EFSF to recapitalize the banking sector will also try to obtain favorable clauses that avoid the involvement of the IMF in the negotiations on the disbursement of aid. The anti-Merkel bloc has begun to make itself felt…
