January 21, 2013
Monti the Wrong Man to Lead Italy
Wolfgang Munchau, Financial Times
As prime minister, Mr Monti promised reform and ended up raising taxes. His government tried to introduce modest structural reforms but they were watered down to macroeconomic insignificance. Having started as a leader of a technical government, he has emerged as a tough, political operator. His narrative has been that he saved Italy from the brink, or rather from Silvio Berlusconi, his predecessor. A fall in bond yields has played into this narrative, but most Italians know they owe this to another Mario – Draghi, president of the European Central Bank.
TAGGED: Mario Monti, Italy, Eurozone, Europe