"I think we can see an evolution”. With this sibylline phrase, Prime Minister Mario Monti replied to those who asked him whether the ECB can ever become a lender of last resort. "I think the best solution is to let the situation evolve", added the Professor, underlining that this also applies to the ESM, the European stability mechanism: "If the markets consider the amount of the ESM credible - explained Monti - it is very probable that that money will never have to be disbursed”, explains Monti.
The Prime Minister then concentrated on internal situation of our country: “We are aware of the fact that Italy is asking for an important contribution to the professions and certain sectors in the immediate future, but right now all Italians are making an effort. And if we all work together, these efforts will be smaller and more evenly distributed." Monti then addressed the dissatisfied: "We understand the difficulty of the categories, we dialogue with everyone, but respect for the law must be demanded".
Italy wants to "do its part for the single market", for this reason it is necessary to "exploit the opportunities for growth and employment". Translated: structural measures are needed, because rigor in terms of public finance alone is not enough. “Those who wanted the fiscal compact wanted it only to feel reassured in the face of their public opinion”. A clear reference to Germany, that of Monti, who reproaches the Germans for having wanted to modify, with France, the rules of the stability pact, contributing to the crisis that is now gripping Europe.
"The Polish finance minister – added Monti – pointed out to me that in 2003 there was a violation of the stability pact by two large countries, and that we are only now addressing the problem”. Monti wanted to dwell precisely on the towns and their different positions, suggesting that everything is possible. “My perception is that the visions, positions and evaluations of all the subjects involved are susceptible to variations in the now imminent occurrence of a political agreement”. So, no forcing. Nor stonewalling.
