Giselda Vagnoni FLORENCE (Reuters) – The launch of a massive plan of purchases of government bonds by the European Central Bank should not loosen the urgent need for national governments to take action to make their economies more competitive. This is the message from the President of the Council in Florence Matteo Renzi and the German Chancellor Angela Merkel to 48 hours before the opening of the polls in Greece and the day after the decisive meeting in Frankfurt where Mario Draghi has challenged the opposition to Berlin to Quantitative Easing and disappointed expectations of Rome for a full sharing of risk. The Germans fear that QE can be used by some states to enjoy yet another postponement on structural reforms. The Italians fear that failure risk sharing means that monetary union is still far from complete fragmentation and add to the financial system. In the shadow of David by Michelangelo, however, Renzi and Merkel take up the challenge of Dragons and also in their communication, as in the work above them, harmony prevails. The first bar on the theme is the Italian premier, who role play Floren tine is the representative of the United peripheral Europe. “(QE) is a compromise important and significant,” he begins. “You can always do more, but what’s done is done and now we need to work on. Italy will put the turbo to the reforms. In 2015 I will not watch the polls but will go straight to the objectives. For me, the most important reform is that of the school. ” More …
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