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The departure of Italy from Draghi is limited

It didn’t take long for Mimmo Parisi to eat his words.

The president of an Italian labor union, which is being investigated by accountants for extorting € 160,000 from round-trip from Rome to the US where he resides legally, has denied earlier reports this month that he is about to lose his job. Home gossip “.

But the next day, the Italian minister of labor announced that the professor of public relations at Mississippi State University and its statistics had lost his job in Italy.

Parisi is the latest head of affairs as Prime Minister Mario Draghi seeks to restructure state-owned enterprises and other EU Euro 220bn institutions before joining them in the reform process. Without such a change, much of the investment is wasted, analysts warned.

“The risk. . . This is the future of the country, “said Maurizia Iachino, a consultant for corporate counseling. , he added.

Meanwhile, during his first three months in office, Draghi, a former Treasury chief and head of a major Italian bank, has replaced Covid Commissioner, chief of security services, and chief of intelligence in Italy – putting the job in place. first wife directing the office.

“It’s just a solution,” said one official.

Mimmo Parisi lost his job as President of Italian business organization © Massimo Di Vita / Mondadori via Getty Images

The removal of government posts is part of the Draghi government’s efforts to eradicate them from the midst of a growing number of people affected by unemployment and poor governance.

Other changes are expected soon. In the next few months, 74 corporate laws will apply to 90 publicly funded companies, according to coMar design. Fifteen, including more than 70bn, is overseen by the finance ministry.

The fact that any change is taking place is proof that Draghi is as reliable as the former head of the European Central Bank. This has given him “independence” from the politics of the protests, says Nicola Pasini, a professor of political science at the University of Statale di Milano.

“They can focus more on the potential and expertise than on politics,” he said.

It is the kind of change that Italy needs all the time. The reform of the administration is part of what Giuliano Amato, who led the Italian stock market as Prime Minister in the early 1990s, recently said the country needs to end the political “corruption” of business.

“Public-private companies are in the hands of political parties [and their demands] which changes their career, ”Amato told the Italian every day Republic.

First among the state-owned companies where the change is likely to come this month is the state-sponsored bank Cassa Depositi e Prestiti, and the state-owned railway Ferrovie dello Stato, both of which are expected to benefit the most from EU funding.

Both companies are “very important in the EU’s financial affairs,” Iachino said.

This problem is particularly important for railway drivers, who have been disturbed by the investigation insurance and IT agreements issued. The group took part in rescuing Alitalia’s plane, and its committee recently approved a number of donor bonuses – although it lost € 562m in 2020 while receiving € 1.1bn in Covid funding.

However, according to experts and investors, it may take more than Draghi to change a few administrators to change the political system and institutions in Italy in a positive way.

“Draghi. . . he was appointed to a special position and responsibility [linked to Italy’s post-pandemic recovery], ”Pasini said. “For long-term change to happen what needs to change is the working class and the way they are going.”

The changing limit is that even if Draghi is able to appoint senior executives, elected officials will remain politically active.

“Draghi is focused on high performance,” Iachino said. “This means that the election of directors will be left to the traditional parties… Still a great sign of political pay.”

Draghi’s tenure may also be too short to change the country’s faulty weapons.

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Matteo Salvini, the leader of the right-wing League, a young and co-operative in the coalition government, has already cast doubt on the ability of Draghi’s management to implement the necessary changes.

“Let’s be honest, it’s not an alliance that can change justice or the financial system,” he said recently he was told Republic.

This, in turn, raised the question of how long Draghi would serve as Prime Minister.

Salvini said his party would be willing to support Draghi to replace Sergio Mattarella as president next February, a position that could be supported by other parties and could lead to elections.

It also means that Draghi will no longer oversee the restructuring process, or waste the EU’s revenue as prime minister.

“There is a lot of work to be done to change the machine, which is why many expect Draghi to replace Mattarella next February,” Iachino said.

“But at the same time we cannot lie to ourselves that he will continue to be Prime Minister for the next 10 years,” he added. “That means continuity – and when did we see continuity in this country?”

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