Italy’s need for help has also put the foreign minister at the centre of a controversy, with wide implications
expect Italy’s foreign minister, Luigi Di Maio, to be wary of sporting allusions. One of the many jobs—none of them permanent—that he took on before his spectacular political rise was as a crowd steward for Napoli football club. It has earned the 33-year-old wunderkind more than a few snide comments. But when it comes to judging Italy’s position after last week’s European summit, he cannot resist a metaphor from football.
The leaders left undecided such trifling details as the fund’s size, when it would begin to function and whether cash would be lent or given outright to member states. To the delight of debt-laden countries such as Italy, which already owes almost 135% of its, the European Commission president, Ursula von der Leyen, suggested both grants and loans. She has mooted a fund leveraged to €1trn or more.
Lobbying Brussels and its European partners is not the only challenge Italy’s government faces. At home it needs to draw the sting of a toxic debate over whether Italy should avail itself of one of three pots of cash in a previously agreed €540bn package that the European leaders rubber-stamped last week. This includes up to €100bn in loans to help governments stem unemployment, and up to €200bn of credit from the European Investment Bank to bolster companies.
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