With only one week until the start of the new parliament, it is likely still far from inevitable that Giorgia Meloni will lead Italy’s next right-wing administration.
According to a Friday article by Bloomberg News, the far-right leader wants to assemble a trustworthy cabinet to reassure allies and investors concerned about the country’s debt, the energy crisis, and the possibility that she won’t be able to guarantee the flow of 200 billion euros in European Union funding to her.
Additionally, US agency Moody’s Investors Service issued a warning on Wednesday that postponing the reforms necessary to maintain the flow of European capital and modernise Italy’s economy could result in a downgrade of the nation’s credit rating.
Bloomberg noted that Meloni’s plans have been somewhat disrupted as a result of Fabio Panetta’s rejection to take the crucial Ministry of Finance job.
According to those with knowledge of the situation, Meloni is banking on a member of the ECB council to fill the position.
If Meloni wants to hasten the transition from the departing administration led by Mario Draghi, she will be under pressure to find a replacement as soon as possible.
Meloni’s alliance has a sizable majority in the new parliament, which will convene for the first time on Thursday.
The leaders of the European Union will meet on October 20; hopes are that the new administration will take office at the earliest on that date.
Giorgia Meloni is pressed for time as she selects the new ministers for the Italian cabinet.
About Author
