Italy Hires McKinsey for EU Recovery Funds, Upsetting Lawmakers Bloomberg 3/6/2021 John Follain
(Bloomberg) A decision by the government of Italian Prime Minister Mario Draghi to recruit consulting firm McKinsey & Co. for help with the European Union’s recovery package has prompted disquiet within his coalition.
The company will advise the finance ministry and help to accelerate the drafting of Italy’s plan to spend its 209 billion-euro ($250 billion) share of the EU windfall, the ministry said in a statement on Saturday. Governance will remain the responsibility of the ministry and other authorities, the statement added.
The newly appointed Draghi, former head of the European Central Bank, has until the end of April to submit Italy’s plan to the European Commission, with his government seeking to salvage an economy devastated by the coronavirus pandemic and regional and national lockdowns.