Premier Matteo Renzi on Friday told
the Bundesbank to butt out of Italian politics while stressing
that he had "excellent" relations with German Chancellor Angela
Merkel.
Renzi sounded the warning after meeting European Commission
chief José Manuel Barroso in Rome Friday for talks on Italy's
six-month duty presidency of the EU.
The premier launched the presidency in a speech at the
European Parliament on Wednesday in which he reiterated his call
for the union to focus on promoting growth and fighting
unemployment after years of painful austerity.
The speech drew criticism from members of the centre-right
European People's Party (EPP) and from the Bundesbank, which are
against Renzi's drive for greater flexibility in the
implementation of the EU's budget rules.
On Thursday Bundesbank President Jens Weidmann called for
"fewer words and more deeds" on Italian reforms.
"The Bundesbank's job is assure that its statute goals are
achieved, not to take part in the Italian political debate,"
Renzi, whose centre-left Democratic Party (PD) won over 40% of
the vote in Italy in May's European elections, told a news
conference.
"The EU belongs to its citizens, not the bankers, neither
Italian nor German ones".
The sparring was seen by some as highlighting different
perceptions in Rome and Berlin about how far EU budget
constraints can be eased to allow for growth-stoking spending.
On Friday Berlin moved to play down the row, with a
spokesman saying that the Bundesbank's position was not the same
as the German government's.
Barroso said the EC fully supported Renzi's drive and said
the EU needed his "enthusiasm" and "passion".
"We need a strong Italy for a strong Europe," he added.
But Barroso also said that the EU was not imposing reforms
as Italy needed these anyway.
He also stressed that Italy had not won any changes on
fiscal rules at last week's EU summit, just clarification that
all the existing scope for flexibility in the budget regulations
should be used.
"Flexibility was increased when we revised the Growth and
Stability pact. The reform is already there but within full
respect of the pact, as sanctioned by our treaties," Barroso
said.
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