Italy followed the path of Great Britain in adhering to the Asian Infrastructure Investment Bank, an international institution whose creation was promoted by China to counter the US-led World Bank.
Until today, the international financial institutions have been controlled by a US-Europe agreement according to which the World Bank is led by a US citizen and the International Monetary Fund by a European one.
The United States lobbied hard against AIIB but were unable to stop the adhesion of Germany, France and Great Britain. The latter’s move was a rare departure from the special relationship between Washington e London. Also Italy, while not claiming a “special relationship”, rarely disregards the United States’ wishes, being once known as “NATO’s Bulgaria”.