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Mario Draghiقs second قwhatever it takesق August 05 2021 12:00 AM RELATED STORIES
DETERMINED: If the Italian PM succeeds, he will change the European conversation so that neighbourly solidarity and fiscal risk-taking are seen as good investments.
Text Size: By Jean Pisani-Ferry/Paris To be the prime minister of Italy is to hold one of the world’s difficult jobs. To paraphrase the English philosopher Thomas Hobbes, life in this post is usually nasty, brutish, and short. Very short, in fact: Since Angela Merkel became chancellor of Germany in 2005, she has had eight different Italian counterparts.
Unsurprisingly, Italian leaders achieve little under such conditions. By the time the Covid-19 crisis hit, German GDP per capita had grown by 20% since Merkel took office, while Italy’s had declined by 4% during the same period.