The Full Monti

Barnier will be an effective negotiator, and Italy will be fine, says ex-Prime Minister.

Mario Monti, the former Italian Prime Minister and European Commissioner, who in 2010 wrote an official new strategy for the EU single market while Michel Barnier was single market Commissioner, wasn’t short of views on European politics at today’s POLITICO New European Order conference.

Monti said that most EU national governments who rely on “extremely superficial” political arguments to maintain their power, are playing  a “cynical game” and that makes them morally corrupt “in a sense.” 

He went as far as to say that without a return to “reasonably responsible” governance, democracy is at risk. Without the EU “there would soon be wars again between western European countries,” he added.

Monti said he will miss British influence in the EU and “was almost desperate to see the UK going.”

Now that it is going, it’s critical that the EU does not dilute itself too much or play games with its single market, Monti said.

The upside of Brexit

Without Margaret Thatcher’s complicated budget rebate to consider, the “EU budget (will be) slightly closer to reasonable human logic.”

The EU will also soon be missing UK’s cash injection to it’s budget. That will make the EU will be leaner, and “When people are lean and hungry they tend to move faster,” in Monti’s view.

Barnier will do well as Brexit negotiator

Having negotiated with and advised Michel Barnier, Monti is a better position than most to tell Britain’s negotiators what to expect from the “very intellectual Frenchman.”

“I think he will be a very effective negotiator. I suspect he will do an excellent job, which is not an easy one. I am not sure whether his nationality will help him or not, but his personality will.”

“I believe he has the right combination adherence to some key principles and ability to consider flexibility to get there,” Monti said.

Italy has a very good mattress that it stuffs money under

Monti was also bullish on Italy’s prospects, saying it had become a magnet for doomsayers who have invariably proved wrong.

Asked by Playbook if there is enough money under the mattresses of Italians to save the country (and the eurozone) if a series of banks go bust, or an irresponsible populist government is elected, Monti was upbeat.

“One reason why I do not wake up all night about Italian concerns is that we have pretty good mattresses that are not really filled with banknotes, unlike even more southern countries,” he said.

“But seriously the proportion of private wealth (in Italy) is very, very high,” adding that he was more worried about a “by far insufficient fight against tax evasions and corruption” rather than financial meltdown or constitutional reform.

Monti all but endorsed Emmanuel Macron for French President.

— This article was updated to clarify that Mario Monti’s advice on completing the EU single market was delivered in 2010.

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