Italian Legislator: “It Is Not Just about Argentina, But About a Just International Order”

In an interview which will be published in EIR, one of the initiators of the Italian Parliamentary Petition on Argentina said the Petition has already gained a hundred signatures. Fabio Porta, member of the Foreign Affairs Committee and President of the Permanent Committee Italians in the World, said Italy will use its EU semester to gather broader support not only for Argentina, but for the issue of international rules that allow a safe debt-restructuring for national economies.

Mr. Porta explained that the Italian petition aims at re-starting negotiations interrupted at the IMF in 2003, which concerned exactly those rules.

“Today it is Argentina, but tomorrow not only other emerging countries, but even European countries could find themselves in the same situation,” Porta said. Italian Foreign Minister Federica Mogherini will discuss the issue with Argentinian President Cristina Fernández de Kirchner in her upcoming visit to Buenos Aires Aug. 4.

“At stake at this moment is the justice and equity of international right,” Porta stressed, referring to the unjust economic and financial system which uses “a double standard” in international relationships.

Mr. Porta also endorsed the push for Glass-Steagall in the United States, which was recently supported by a petition to Congress with 600,000 signatures. “It is right and wise too, that a new effort has started, for reorganizing the international banking and financial system, starting with regulations” in the United States. “I therefore consider very interesting what is occurring, the fact that such a large part not only of Congress but also of public opinion mobilized around this proposal.”

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