Panetta and his successor in the ECB: let's hope Meloni doesn't risk an own goal but the postponement of the Mes doesn't help

The replacement of Panetta on the board of the ECB with an Italian is not automatic and in the past Spain missed a turn. Meloni expects to gather the necessary European consensus but the new postponement of the Mes is not a good omen

Let's hope for Italy that the premier Giorgia Meloni has done the calculations well and that he has the political consensus at European level in his pocket to ensure that on the board of the ECB the successor of Fabio Panetta, designated to become Governor of Bank of Italy from next November XNUMX, is still an Italian. If so, the current deputy director of the Bank of Italy, Piero Cipollone, former economic adviser to the prime minister during the government, will most likely join the ECB Tale.

Given the speed with which the Council of Ministers proceeded to start the process that will lead Panetta to the helm of the Bank of Italy yesterday evening, Meloni is likely to be sure of bringing home the confirmation of an Italian seat on the board of the ECB . But there are two considerations that should not be underestimated: the first is that the change in the ECB is not automatic and it is not written anywhere that an Italian should be replaced by an Italian on the board. In the past, Spain missed a round and the risk exists for Italy. It would be a sensational own goal for Prime Minister Meloni if she failed to bring an Italian to the top of the ECB in place of Fabio Panetta, whom she initially wanted to lead the Ministry of Economy in place of the Northern League's Giancarlo Giorgetti.

But there is a second consideration that should not be underestimated and is linked to the unforgivable delays of the Meloni government in ratifying the Month, which hasn't happened yet. The majority, to avoid mishaps and a sensational rejection, want the vote of the Italian Parliament to be postponed to September and this morning the prime minister will explain the reasons. But in the eyes of the EU, Italy's new postponement on the Mes is not exactly a good encouragement for the change to the ECB. From the discussions on the new Stability Pact and the Pnrr and now back to the Mes, it cannot be said that Italy presents itself in Europe with the best credentials. But - let's repeat it once again - let's hope that Meloni hasn't miscalculated on the ECB.