The European Union is terrified of Italy’s new, populist government, fearing it will inspire other populist revolts to spark across Europe.
“The old ruling class in Italy and Europe want to abort this government,” said Italian politician Giancarlo Giorgetti. “The EU fears that if we succeed in Italy, other countries will follow us.”
“They don’t want to feed other populist movements.”
Giorgetti warned that the EU is so upset that it may start targeting Italy’s financial markets in the coming months.
“The markets are populated by hungry speculative funds that choose their prey and pounce,” he pointed out. “In the summer the market volumes are small, you can lay the groundwork for aggressive initiatives against countries. Look at Turkey.”
Italy is just the latest iteration of a populist movement in Europe; Austria, Hungary and Poland have previously installed Eurosceptic governments.
What the EU really fears is Italy leading a European populist coalition, the components of which have been pieced together over the past several years.
For one thing, EU member-nations, particularly those in the East, have been increasingly resistant to the EU’s power grab in domestic affairs.
“To win we had to unite Italy, now we will have to unite Europe… I am thinking about a ‘League of the Leagues of Europe,’ bringing together all the free and sovereign movements that want to defend their people and their borders,” Italian Interior Minister Matteo Salvini told a crowd of 50,000 last month.