Milan, 13 Oct. (LaPresse) – “I will vote against the budget deviation. The reason is quite simple: we in this Chamber may not fully realise it, but the world has entered a phase that will one day be called the global public debt crisis”. This was stated by the former Prime Minister and life senator, Mario Monti, whilst speaking in the Senate Chamber on the DPFP. “Something more serious overall,” he added, “than what we experienced in this Chamber and in another – such as the Italian public debt crisis. That was extremely serious for us, but it was a crisis that, at the time, originated in Italy, whilst the rest of the eurozone remained fairly healthy and the United States was in very good shape. Today’s financial difficulties – which, I fear, will last for years – stem from much higher up the historical hierarchy of nations. The United States bears primary responsibility, and within the European Union, France is the hardest hit, partly because it did not take the measures that we were persuaded – not forced – to take. We are therefore being very, very careful in managing our debt.”
DPFP, Monti: “I will vote against the budget deviation; we are in the midst of a global debt crisis”
Milan, 13 Oct. (LaPresse) – “I will vote against the budget deviation. The reason is quite simple: we in this Chamber may not fully realise it, but the world has entered a phase that will one day be called the global public debt crisis”. This was stated by the former Prime Minister and life senator, Mario Monti, whilst speaking in the Senate Chamber on the DPFP. “Something more serious overall,” he added, “than what we experienced in this Chamber and in another – such as the Italian public debt crisis. That was extremely serious for us, but it was a crisis that, at the time, originated in Italy, whilst the rest of the eurozone remained fairly healthy and the United States was in very good shape. Today’s financial difficulties – which, I fear, will last for years – stem from much higher up the historical hierarchy of nations. The United States bears primary responsibility, and within the European Union, France is the hardest hit, partly because it did not take the measures that we were persuaded – not forced – to take. We are therefore being very, very careful in managing our debt.”