A NEW PACT OF STEEL, BETWEEN ITALY AND GERMANY - News

Merkel and Monti

According to reliable sources (Repubblica), there would be a new 'Pact of steel' between Germany and Italy, which are very reminiscent of those of 1939 ...
The Presidents of the Italian Government Monti and the President of Germany Government Merkel should announce it in a few days.


It is a political and economic agreement:
Synchronization policy: try to steer Germany to the eurobond and the Golden Rule, or the ability to predict a favorable treatment for investments (up to scorporarli at all) in the count of the deficit.
It will, in practice,
the synchronization process of ratification of the European Stability Mechanism (ESM) in the parliaments of Rome and Berlin, the same day.


This project seems to be at an advanced stage of discussion, but will also mean that Italy will not go back, in respect the decisions on economic policy, since it is linked with the Pact of Steel with Germany ..
We'll see interesting things in the future ...