July 6, 2014

How Matteo Renzi Beat Merkel on Austerity

Anatole Kaletsky, Reuters

The Associated Press

Matteo Renzi, the prime minister of Italy who took the revolving presidency of the European Union this week, seems to be the sort of man that Napoleon was referring to when he reputedly said that the key qualification he sought in recruiting a general was good luck. Renzi become prime minister without even needing to win an election because Silvio Berlusconi and all other rivals self-destructed. He took power just after Italy passed the lowest ebb of its economic fortunes. In May, he was rewarded for his good fortune by Italy’s voters, who anointed him with a strong democratic mandate in the same European elections that discredited almost all Europe’s other national leaders. Now he is taking the helm in Europe, as an economic recovery is starting and the European Central...

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TAGGED: David Cameron, UK, Germany, Angela Merkel, Jean-Claude Juncker, European Union, Europe, Italy, Matteo Renzi

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