Mario Monti warns against split in the European Union

Addressing the European Parliament on 15 February, Italian Prime Minister Mario Monti warned against the split in the European Union caused by eurozone problems. He said it was wrong to divide the EU into ‘peripheral’ and ‘central’ member states, as well as to emphasise the separation between those receiving and those paying for bailouts. Instead, Monti underlined the necessity of strengthening the EU single market, which would lead to a stronger economic union.
 
Turning to Italy’s debt crisis, Monti said his government is not going to impose more austerity measures on top of the three deficit-cutting packages adopted last year because this would prevent economic growth. “Fiscal discipline is fine, but we also want growth,” said Monti. He also told MEPs that his package of austerity measures is leading Italy “out of the dark hours that we have experienced”.
 
Monti’s speech was warmly welcomed by many MEPs. Commenting on the speech, Guy Verhofstadt, leader of the Group of the Alliance of Liberals and Democrats for Europe (ALDE) and the former Prime Minister of Belgium, said that Greece should learn from Italy’s structural reforms, efforts to overhaul the public sector and changes in the political system. 
 
Watch the full speech

Mario Monti is a member of Friends of Europe’s Praesidium.