n the debate over the future of the EU carbon trading system, the EU commission is playing for time. For Italy’s Prime Minister Giorgia Meloni, this offers an opportunity to rise as the opposition leader and voice of reason within the EU.
Giorgia Meloni is a political chameleon. Charitably, one might describe her as a bridge-builder -- between Italy’s national interests, European policy, and the Union’s integration with global power centers.
Her proximity to the U.S. government provided reassurance at the height of the tensions between Brussels and Washington.
Yet her zigzag approach on the Ukraine war -- sometimes acting as a force for dialogue, other times siding with the war faction – raises fresh questions.
As the leader of the EU’s third-largest economy, she wields political leverage that could make her a dangerous counterweight to Brussels’ centralizers. The ostentatious transfer of Italy’s gold reserves from the national central bank to the custody of the state can be interpreted as a provocation against Brussels. Is Rome preparing for a currency crisis emergency and positioning a gold-backed currency?
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