The China Mail - Far-right Meloni seeks to reassure in first speech as Italy PM

USD -
AED 3.672506
AFN 64.497375
ALL 81.046102
AMD 360.780113
ANG 1.789785
AOA 917.000069
ARS 1529.25008
AUD 1.422465
AWG 1.8025
AZN 1.697143
BAM 1.745704
BBD 2.012675
BDT 123.586379
BGN 1.747831
BHD 0.377114
BIF 2995.403222
BMD 1
BND 1.277279
BOB 11.766859
BRL 4.9652
BSD 0.999331
BTN 94.818583
BWP 13.766234
BYN 2.934172
BYR 19600
BZD 2.009729
CAD 1.401575
CDF 2315.999802
CHF 0.824625
CLF 0.025212
CLP 986.459589
CNY 6.67805
CNH 6.668802
COP 3171.419646
CRC 456.018209
CUC 1
CUP 23.982684
CVE 98.420137
CZK 21.69075
DJF 177.944392
DKK 6.665615
DOP 61.293346
DZD 134.335699
EGP 55.026908
ERN 15
ETB 162.538225
EUR 0.89177
FJD 2.237197
FKP 0.747807
GBP 0.747785
GEL 2.590144
GGP 0.747807
GHS 11.586558
GIP 0.747807
GMD 73.999846
GNF 8843.664926
GTQ 7.638684
GYD 209.291739
HKD 7.842915
HNL 26.828223
HRK 6.717504
HTG 130.968001
HUF 326.872989
IDR 18093.85
ILS 3.10555
IMP 0.747807
INR 94.945494
IQD 1514.883742
IRR 1832375.000051
ISK 121.779829
JEP 0.747807
JMD 158.593297
JOD 0.708958
JPY 157.052499
KES 129.754095
KGS 87.448598
KHR 4082.652742
KMF 439.501381
KPW 899.999961
KRW 1323.76029
KWD 0.31069
KYD 0.832775
KZT 453.715357
LAK 22486.722899
LBP 89486.053465
LKR 331.81595
LRD 170.375329
LSL 16.556076
LTL 2.95274
LVL 0.60489
LYD 6.399786
MAD 9.815504
MDL 18.037221
MGA 4519.123488
MKD 54.987281
MMK 2100.106238
MNT 3599.160205
MOP 8.073191
MRU 39.936627
MUR 47.160449
MVR 15.460055
MWK 1732.762083
MXN 18.69765
MYR 4.085296
MZN 63.897294
NAD 16.556076
NGN 1332.060223
NIO 36.774222
NOK 9.32225
NPR 151.709734
NZD 1.75492
OMR 0.384498
PAB 0.999241
PEN 3.431874
PGK 4.475387
PHP 63.617963
PKR 276.527424
PLN 3.92556
PYG 5779.443924
QAR 3.642612
RON 4.779805
RSD 104.87794
RUB 80.255839
RWF 1476.413621
SAR 3.753249
SBD 8.07458
SCR 14.037027
SDG 601.503045
SEK 9.931225
SGD 1.278335
SHP 0.7473
SLE 22.949817
SLL 20969.504398
SOS 571.07154
SRD 37.627986
STD 20697.981008
STN 21.868166
SVC 8.743696
SYP 13001.999685
SZL 16.555541
THB 33.769752
TJS 9.208462
TMT 3.51
TND 2.983978
TOP 2.40776
TRY 49.762245
TTD 6.789842
TWD 32.585799
TZS 2645.601821
UAH 45.239791
UGX 4402.195742
UYU 40.076762
UZS 11958.762887
VES 879.788898
VND 25842.5
VUV 118.622996
WST 2.767791
XAF 584.962704
XAG 0.018551
XAU 0.000250763889
XCD 2.70255
XCG 1.800955
XDR 0.707052
XOF 584.962704
XPF 106.448878
YER 236.095571
ZAR 16.624245
ZMK 9001.209608
ZMW 20.091043
ZWL 321.999592
SSP 5745.299755
MXV 2.110273
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

Far-right Meloni seeks to reassure in first speech as Italy PM
Far-right Meloni seeks to reassure in first speech as Italy PM / Photo: © AFP

Far-right Meloni seeks to reassure in first speech as Italy PM

New Italian Prime Minister Giorgia Meloni outlined her programme for government on Tuesday, reaffirming her support for the EU, NATO and Ukraine and presenting herself as a steady hand to guide her country through turbulent times.

Text size:

One month after her far-right Brothers of Italy party won general elections, Meloni used her inaugural speech to parliament to seek to allay concerns she will guide the eurozone's third largest economy down a radical new path.

"Italy is fully part of Europe and the Western world," the 45-year-old told the lower house, adding that it would "continue to be a reliable partner of NATO in supporting Ukraine".

Meloni, who was sworn in as Italy's first woman premier on Saturday, denied accusations she will restrict civil rights and said she had "never felt sympathy or closeness to undemocratic regimes... including Fascism".

The prospect of a Eurosceptic, populist government in Italy -- a founding member of NATO and the European Union -- had sparked concern among its allies, particularly in Brussels.

Meloni strongly backs EU sanctions against Russia for its war in Ukraine, but her coalition ally Silvio Berlusconi last week was recorded defending his old friend, Russian President Vladimir Putin.

Italy was heavily dependent on Russian gas before the war and is currently battling soaring inflation, fuelled by sky-high energy bills, which risks sparking a recession next year.

On Tuesday, Meloni said the country was "in the midst of a storm".

She said her priority was to help businesses and households cope and to continue find new sources of energy, saying she would not give in to "Putin's blackmail".

Lawmakers will hold a vote of confidence in Meloni's government on Tuesday evening, followed by another in the Senate on Wednesday.

The votes are largely procedural as she has a comfortable majority in parliament thanks to her coalition with Berlusconi's Forza Italia party and Matteo Salvini's far-right League.

- Traditional conservative -

In a speech lasting more than an hour, Meloni promised to cut taxes for businesses and families while simplifying bureaucracy to encourage investment, and also announced a one-off tax amnesty.

She said "lasting and structural growth" was the answer to reducing Italy's debt -- forecast to be 145 percent of gross domestic product this year, the highest ratio in the eurozone after Greece.

But Giuseppe Conte, former premier and leader of the opposition Five Star Movement, accused her of "empty rhetoric", saying there were no concrete solutions to the cost-of-living crisis.

Meloni also warned that help for energy bills would "drain" much of the available funds and other unspecified spending projects would have to be postponed.

Lorenzo Codogno, a political analyst and former head economist at Italy's treasury, said her speech suggested she would lead "more of a traditional conservative government than a radical far-right spin-off".

He noted she said Italy will fully respect EU budget rules, even if she will work to try to change them.

Key to Italy's future growth is almost 200 billion euros ($197 billion) in grants and loans from the EU's post-pandemic recovery fund, which depend on Rome implementing major reforms, from criminal justice to public administration.

Meloni said the money was "an extraordinary opportunity to modernise Italy", but said she would seek "adjustments" to the plan to take into account the rising cost of energy and raw materials.

- Underdog -

 

"I am what the British would call an 'underdog'," she said Tuesday, saying she intended to "defy all predictions".

In a bid to reassure investors, she has appointed as economy minister Giancarlo Giorgetti, a relatively moderate member of the League who was economic development minister in Mario Draghi's outgoing government.

Roberto Cingolani, who served as energy minister and helped reduce Italy's reliance on Russian gas from 40 percent to 10 percent since the Ukraine war began, will also stay on as an adviser.

However tensions within her coalition had led many commentators to predict it may go the way of many others in Italy, which has had almost 70 governments since 1946.

Salvini -- the new deputy prime minister who is also in charge of infrastructure and transport -- risked upstaging Meloni's speech by setting out his own programme for government on Monday.

In a series of tweets, the League leader committed himself among other policies to building a long discussed -- and hugely costly -- bridge between mainland Italy and Sicily, which he said would create 100,000 jobs.

Q.Moore--ThChM