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Thursday, August 04, 2011

Not The Right Time To Argue, Guys

Earlier today, a curious skirmish took place between Italy's Prime Minister Silvio Berlusconi and Economy Minister Giulio Tremonti during a press conference, following an emergency meeting between the Italian government, unions and employers' organisations, (for our Italian-speaking readers, a video is available here). The two men who aren't exactly the best of friends.

The exchange between the two speaks for itself:

Tremonti: "We are approaching the main international economic and financial institutions to work on a set of joint proposals [to come out of the crisis]: the European Commission, the OECD and the IMF..."

Berlusconi (interrupting): "And the ECB."

Tremonti (giving Silvio a rude look): "Well, I think the ECB is very important, but can't be involved."

Berlusconi: "But it can be informed."

...upon which Tremonti just ignores him and continues speaking.

Slightly worrying that the two top people in a government overlooking an increasingly wobbly €1.8tr bond market aren't even trying to leave a public impression of being on the same page...

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