Economy / Politics

Did the Financial Times really attack Monti ?

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The title of the article by Wolfgang Munchau published yesterday by the Financial Times looks quite clear: ‘Monti is not the right man to lead Italy’. An unexpected attack against the man who is considered, in Italy at least, the sweetheart of international markets.

But is it really so ?

Yes, the article is not tender with the Italian prime minister, blamed for not checking German Chancellor Angela Merkel, for raising taxes and for failing to produce really significant reforms.

But the other Italian leaders don’t fare well either. Mr. Bersani (Democratic Party) is labeled as a ‘hesitant’ reformist, while Munchau concedes that he could perhaps build an axis with French socialist President Francois Hollande.

Mr. Berlusconi’s credibility is put in doubt.

The main culprit, after all, is found to be the Italian electoral system, which is likely to produce a divided Parliament.

In the end, Mr. Monti is compared with Weimar Republic Chancellor Heinrich Bruning. But after all, Mr. Bruning was one of Hitler’s most vehement opponents.

Therefore, it looks like Munchau is attacking the Italian system in general, rather than especially Monti.

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