After Schaueble, even Olli Rehn praises Italy. The Vice-President of the European Commission in charge of Economic Affairs declared, on the sidelines of the Ecofin, that our country is "an example" for Europe. In terms of structural reforms, several members of the euro area should follow the measures adopted by Monti's caretaker government which are allowing the Italian economy to restart, albeit slowly. These were "necessary operations" that the executive had the courage to undertake.
Rehn also wanted to insist on the exceptional nature of the private sector's involvement in the Greek bailout. It remains a "unique" case and "it will not be repeated anywhere else", declared the vice president of the EU Commission.
Next week, however, all eyes will be on Portugal. Within 10 days the technicians of the Troika (EU, ECB and IMF) will deliver the analysis on the implementation of the reforms launched in exchange for aid. We are already beginning to fear, in fact, that after Athens it will be Lisbon that will have to ask for help from international institutions in order to complete the consolidation of its accounts.
