Italy, Germany plan joint stand on accords

Italy, Germany plan joint stand on accords

ROME -Agence France-Presse
The Italian and German parliaments are planning simultaneous ratification of the European fiscal compact and European Stability Mechanism before the summer recess, Italian daily La Repubblica said yesterday.

The report said German lawmakers were due to travel to Italy imminently and Italian ones will go to Berlin to discuss provisions against the debt crisis.

Speech at Parliament

German Finance Minister Wolfgang Schaeuble is set to speak at an Italian parliamentary committee hearing, while Italian European Affairs Minister Enzo Moavero and Deputy Economy Minister Vittorio Grilli will speak in Berlin.

Italian Prime Minister Mario Monti and German Chancellor Angela Merkel are due to jointly attend both ratifications and issue a declaration on the future of Europe, said the daily, referring to their plan as “a secret pact.”

La Repubblica newspaper said this agreement could be seen as part of Italy’s ambitions to replace France as Germany’s favored partner in Europe in case Socialist Party candidate Francois Hollande wins the presidential election this weekend.

Hollande has called for a re-negotiation of the fiscal compact deal.

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