Introducing Italy's Brand New
Government
It is oddly fitting that Goldman Sachs, which now has Europe by the short and curlies, would make the first official introduction of its puppet Italian government.
From Goldman's Francesco Garzarelli
Italian PM designate Mario Monti has unveiled the composition of his Cabinet. Key Ministries are taken by high profile and widely respected figures, mostly from academia and the civil service. In a departure from the ‘technocrat’ government of Ciampi in 1993, the Monti government has no elected representatives. PM Monti will lay out his government’s program tomorrow in the Senate, ahead of a vote of confidence. Broad bipartisan support for the new government is expected, at least initially. PM Monti is likely to hold office until general elections are held in the Spring of 2013.
Highlights:
Prime Minister: Prof. Mario Monti – former EU Commissioner (1994-2004) and President of Bocconi University. His deputy will be Prof. Antonio Catricalà, currently head of the antitrust regulator.
Finance Minister: Mario Monti. Junior ministers will be appointed in the coming days and, according to the press, could include well-known economics professors.
Labor and Welfare Minister: Prof. Elsa Fornero, a highly respected expert in social security. Prof Fornero heads the Centre for Research on Pension and Welfare policies – an Italian research institute at the University of Turin.
Economic Development Minister/Infrastructure/Transport: Corrado Passera, currently CEO of Intesa Sanpaolo – the largest Italian domestic bank.
Foreign Minister: Giulio Terzi di Sant’Agata, the current Italian Ambassador to the United States.
Justice Minister: Prof. Paola Severino, who lectures in law at LUISS University in Rome.
Interior Minister: Anna Maria Cancellieri, who has been prefect (a senior law enforcer appointed by the central government) in several Italian provinces (the layer of local government between municipalities and regions, which the previous government planned to scrap).
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