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June 02, 2005
French “no” impacts Europe-U.S.A. relationship
In Tuesday’s Italian newspapers the main news related to France rejecting of the European Constitution seems to concern the European euro. In fact, according to the economic newspaper Il Sole-24, in the change with the dollar our currency has sunk yesterday to 1,25, whereas in the past it always maintained itself between 1.35/ 1.40.
If it will remain so in the future, this gap might seriously impact European economy, in particular import-export balance if we consider that in the first hours the European Stock Exchange suffered from a consistent loss.
The economist Giuseppe Turani, however, optimistically writes in La Repubblica that in the next few months there will not be any serious financial earthquake. On the contrary it is expected that some bad news from the States concerning the real estate market and the hedge funds may start arriving towards the end of June. What might again enhance the European currency.
As to Italy’s political reactions to French “no”, almost all leftist newspapers, particularly those of extreme left like “Il Manifesto” and “Liberazione” consider the this vote as “ the victory of mass democracy against the excess of market liberalization and globalization”.
To this purpose it is also worth remembering that, on the occasion of last Bush’s visit in Europe and his speech criticizing the Soviet occupation followed by the Yalta Treaty, Armando Cossutta, president of the extreme left party Comunisti Italiani, interviewed by Giuliano Ferrara for La7tv daily broadcast “ottoemezzo”, declared that a strong EU should unite with Russia to fight against American imperialism.
For opposite reasons also right and centre-right newspapers like Libero are satisfied by this vote: the “no” expresses the rejection of the European common currency, the Euro, as well as the rejection of Romano Prodi (leader of the Left coalition) who strongly sustained it. Moreover the French vote, turning itself in favour of Tony Blair’s policy, is by consequence in favour of the United States.
In particular Il Tempo , while confronting the advantages that this vote gives to the U.S. and the dis-advantages for Russia, writes: the French “no” may weaken Putin’s partnership with his friend Chirac.
Posted June 2, 2005 11:24 PM
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