Italian recipe for Lebanon: For a nonpartisan specialization government

Sun 18 Oct 2020 at 18:17 Economy


NNA - Rome - Lebanon's news occupies a large part of the Italian media, for there are a good number of Italian journalists who have visited and lived in Lebanon for many years and who still follow its news and attach special importance to the Lebanese situation.

In this context, the "National News Agency" sought the opinion of "La Repubblica" Newspaper Chief Italian Reporter in Beirut, Alberto Stapelli, and former International Relations Department Director at "Espresso" Magazine, Jani Pirelli, about the financial and economic crisis in Lebanon.

Both journalists agreed that Italy has experienced similar economic and financial conditions, which prompted its main political parties to open the way for specialized governments, because the priority was to save the country. Accordingly, they deemed that the way out of the crisis in Lebanon was through having a non-partisan government of specialists.

Pirelli recalled herein the famous government of Mario Monti, "which was formed on October 11, 2011, and resigned after a year, following radical reforms that contributed to overcoming the economic stagnation and advancing growth by making painful decisions."

He added: "Mario Monti, who was called Super Mario, sought through his government formation after the fall of Berlusconi's cabinet, to reassure the markets that Italy will make sacrifices in order to get out of the debt crisis it was facing. The Italian borrowing cost, i.e. the interest rate on the money borrowed by the government, at that time reached a dangerous rate of nearly seven percent. Hence, Monti made a decision not to appoint any of the former ministers, and he actually managed to restore the confidence of global financial markets in Italy."

In turn, Stapelli indicated that "Monti managed, within a year, to reduce the public debt of about 1.9 percent to 10 percent, but the most important thing he did was to revitalize the economy, following an austerity policy with the support of the main parties."

He added that Monti's qualification was the reason why most political parties chose him "to head a government of specialists in a country that was facing a major financial crisis and was subject to supervision by the International Monetary Fund, the European Union and the European Central Bank."

"I do not know if the political class in Lebanon would allow a figure like Monti to lead a government of specialists, and I do not know if Lebanon currently has experts like him," wondered Stapelli.


========R.Sh.

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