The voice of Italian Prime Minister Mario Draghi is not only being heard loud and clear in Paris and Berlin, but it is also setting the agenda as the EU tried to emerge from the coronavirus pandemic. Jana Puglierin, senior policy fellow at the European Council on Foreign Relations told the Financial Times: “Italy was always seen as the EU’s juvenile delinquent, and now it’s the model European." On Monday, Mr Draghi, the former President of the European Central Bank (ECB), will present Italy’s plans to spend €190billion (£165bn) of EU loans and grants alongside a set of structural reforms seen as critical to the entire credibility of Europe’s post-Covid recovery effort.
Mr Draghi has also announced Italy will run its largest budget deficit since the early Nineties, and has decided to increase borrowing ahead of a call from the IMF for all EU countries to do the same.
Financial markets, often worried about the size of Italy’s public debt, for now remain unconcerned — a sign of confidence in the new Prime Minister.
Moreover, previously thorny relations between Rome and Paris have suddenly blossomed, according to diplomats from both countries.
Mr Draghi holds regular calls with Mr Macron, including one last week, to discuss the pandemic and other strategic issues.Insurance Loans Mortgage Attorney Credit Lawyer
Not everyone in Europe is happy about his appointment, though.
Varoufakis' brutal attack against Mario Draghi: 'He strangled Greece! (Image: GETTY)
Yanis Varoufakis, the former finance minister of Greece, has furiously criticised the former President of the ECB, particularly after hearing that he had employed consultancy agency McKinsey to advise his government on how to spend the billions of the EU Recovery Fund.
Mr Varoufakis wrote on Twitter in March: "So predictable, so sad: Mario Draghi hired McKinsey to ‘organise’ Italy’s distribution of the Recovery Fund monies.
"What next? Get the Mafia to re-organise the Ministry of Justice?"
The former Greek minister was then interviewed by Italian newspaper La Stampa, in which he defended his statement.
He wrote: "Draghi’s decision to engage McKinsey was scandalous and an insult to the good people of Italy.
"In effect, it constitutes a statement that, to