ER Editor: This was a story dwarfed by the ECB’s QE bailout some days ago and barely reported on in the media. A google search shows very little except in certain Italian outlets. We’ve found this short Italian blog piece of May 28, 2020 which we’ve had translated in full here:
Today a delegation of Italia Libera, a new political entity that among its objectives is proposing the Italexit, has filed with the Court of Cassation the draft constitutional law of popular initiative entitled “Induction of a referendum on the withdrawal of the State from the European Union”. A representative of the movement explains that it is “an initiative long studied with experts and academics that represents the first step for the reconquest of political, fiscal and monetary sovereignty. To free oneself from this European Union is absolutely necessary to allow a new Renaissance of Italy, cradle of culture and protagonist of history”. The initiative is also supported by Vittorio Sgarbi.
Italexit – The referendum project “retraces in the opposite direction what happened with the popular initiative of the European Federalist Movement and the subsequent approval of the constitutional law n. 2 of 1989 that made the constitution of the European Union appear a free choice for Italians in the only referendum in republican history”, explains the movement again. As a result of the technical requirements, the collection of signatures will begin, with all the Italian municipalities as protagonists.
Lawyer Gian Luca Proietti Toppi, the first signatory of the project, says that today “It is an historic day because, after thirty years, the first stone has been laid so that the Italian people can once again express themselves on the role of Italy in Europe”. While the lawyer Daniele Ricciardi adds: “The world war unleashed by Covid-19 has given the definitive demonstration that the European Union is a project without soul and without warmth, where the aim is to make ends meet by letting people starve. Our idea of Europe is different, we believe we are heirs to Schuman, Spinelli and De Gasperi who dreamed of something else”.
Will Italy be the Next Country to Leave EU?
On May 27, the political movement Italia Libera submitted a constitutional bill to the Supreme Court of Cassation demanding a referendum for Italy to leave the EU. After years of discussions, the foundation stone was laid for Italians to debate whether they want to remain in the EU or follow the United Kingdom out of the bloc. The draft bill presented by Italia Libera to the Supreme Court of Cassation is entitled “Call for a referendum on the withdrawal of the state from the European Union.”
Effectively, Italia Libera has demonstrated that it is possible to follow an institutional path to allow citizens to decide whether they want to remain in the EU or not – and for those who want to leave, now is the best time considering the massive decline in popularity for the bloc after their abandonment of Italy when it was at the peak of the coronavirus pandemic.
Gian Luca Proietti Toppi, a lawyer involved in the bill, said that it is necessary to reach ordinary Italians and
“open their eyes to the harmful effects of participating in a Union without a soul and based only on finance. It is clear that with the filing of the 50,000 signatures necessary to start the parliamentary process of the proposal, a broad debate will open on the opportunity to exit the cage of the EU and the Euro.”
He continued to explain that
“the effects of liberating the old continent from this bureaucratic and oppressive superstructure will certainly be complex to manage. However, Italia Libera, who is the first promoter of the Committee that collected the signatures needed, has already put experts and academics to work to draw up a plan that will secure the savings of Italians and from the debt.”
Although he did not mention the EU’s abandonment of Italy during the peak of the coronavirus pandemic, he did emphasize how the bloc financially exploits Italy, just as it does to all of Mediterranean Europe, with the exception of France (ER: a position we’ve heard before).
There are many positive aspects to the EU, most notably the free movement of people and a coordinated effort to fight crime through Europol, but these multilateral agreements can exist without a European Parliament and domineering institutions based in Brussels and Strasbourg. As Toppi explained, Italy imagined the EU to be “a community of peoples and not of bankers.” It is for this reason that they announced the bill on the same day an unprecedented European Union Recovery Fund became official. This fund was only established because of the backlash received due to the bloc’s initial disinterest in assisting already struggling economies of the EU that were being further devastated financially by the pandemic.
With widespread southern European dissatisfaction with how the EU abandoned its supposed liberal ideals, particularly Germany, in favour of serving inward self-interests, bloc leaders are now playing catch up. President of the European Commission and Angela Merkel’s right-hand man in previous German governments, Ursula Von Der Leyen, and the President of the European Central Bank, Christine Lagarde, who was also a former member of the Troika of bankers, announced the unprecedented measures to assist Europe through its financial woes. This time they promised real aid that would not completely decimate state structures and entire economies like what happened to Greece, Spain, Portugal, and to a lesser extent Italy, for the entirety of the 2010’s. The Governor of the Bank of Italy expects a 13% drop in GDP in 2020, and for this reason Toppi emphasized that Italy does not need any further indebtedness, which will increasingly put Italy in the hands of international speculators.
However, Italians remember that Lagarde announced on March 13, just as the coronavirus was truly beginning to overwhelm hospitals, that the pandemic was an Italian problem only. This was the catalyst that saw ordinary Italians begin to remove EU flags from public display and replace them with Russian and Chinese flags in gratitude to the significant assistance that these two countries gave to Italy when it was abandoned by Brussels and Berlin.
An “Italexit” would be a bigger blow to the prestige of the EU than Brexit. Italy, as a G20 country, uses the Eurodollar, unlike Britain which maintained currency sovereignty and continued to use the pound. Therefore, to prevent the strong possibility that Italy in the coming years could leave the EU, Brussels and Berlin must take note of its political failures and work to design a new community that has respect for national sovereignty and identity, and on the basis of reciprocity. It is not acceptable that Germany remains the dominant country of the EU and effectively rules over the European Commission, the European Central Banks, the European Court of Justice and the European Parliament.
A Europe free of unscrupulous bankers, self-referential bureaucrats and inadequate politicians is at the forefront of those pushing for their respective countries to exit the EU or call for its reformation.
However, for this to be achieved, a major state must lead the charge, and it appears that Italy will take on this mantle and could very well be the first Eurodollar state to leave the EU if drastic reformations are not made.
An Italian exit will surely have a domino effect felt all across Europe.