Economy

Is Italexit Coming? Anti-EU Sentiment in Italy Growing Amid COVID-19

With the highest death toll from COVID-19 in Europe, Italy is seeking economic support

Anti-EU parties and movements are gaining traction in Italy as a result of the Coronavirus pandemic, which has caused a historic financial collapse in the country.

Will Italexit Become a Thing?

Having the highest death toll from COVID-19 in Europe, Italy has been desperately seeking financial support in dealing with the ongoing crisis, although the EU has been reluctant to give the country what it wants.

Europe’s reluctance to support Italy in fighting the pandemic has sparked a toxic debate in Rome, as well as given rise to anti-EU movements and a push for parties who want to exit the Union. The debate, however, has been helpful to the prime minister and the opposition for deterring attention from the “mismanagement of the health crisis.”

The main focus of the political debate in Italy right now is what actions will the European Union do to aid countries like Italy, who have been hit hard by the virus and the economical consequences from shutting down to limit the spread. Italy has announced 16 billion euros in fiscal measures to help the economy, although the public dept is worth 130% of the country’s GDP and the government has so far been unable to provide a massive stimulus package.

The 19-country group which uses the euro has agreed to a package worth 240 billion euros for the bloc, as well as a credit line via the crisis fund – the European Stability Mechanism (ESM).

This means that Italy could turn to the ESM for money, although that would give a boost to Italian anti-EU parties and call the country’s sovereignty into question. Prime Minister Giuseppe Conte will have to decide between receiving criticism from anti-establishment parties for requesting a loan or refusing the money and potentially validating the growing anti-EU sentiment.

Tecnè – an Italian consultancy group, conducted an interesting survey earlier this month, which showed 42% of respondents saying they want to leave the EU, up 16% from November 2018’s 26%.

Julio Rivera

Julio Rivera is a small business consultant, political activist, writer and Editorial Director for Reactionary Times.  His writing, which is concentrated on politics and cybersecurity, has also been published by websites including Newsmax, The Hill, The Washington Times, LifeZette, The Washington Examiner, American Thinker, The Toronto Sun, PJ Media and many others.

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