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Italy compares EU to the Titanic

titanicItalian Prime Minister Matteo Renzi has underscored the discord between his government and the Brussels behemoth by comparing the EU to the orchestra on the Titanic.

Renzi has been at odds with EU officials on several issues, including budget rules under the Stability Pact. He has argued for some slack to revive his country’s economy by cutting taxes and spending to encourage growth.

Rome is now pushing for the EU to introduce a two-speed approach in its future development.

"The EU is like the orchestra playing on the Titanic," Renzi told Bloomberg while noting that his reformed and revitalised country has earned it the right to take a lead in shaping the bloc’s future.

"Today we have done reforms and we are in a position to say to EU partners: 'friends, we can change this wrong, bureaucratic approach.'"

Renzi has often dubbed the German-inspired Stability Pact as the "Stupidity Pact".

He has not been shy about referring to Brussels as “technocrats” and has been outspoken on the EU’s failure to act decisively on the migrant crisis.

He has challenged France over temporary border closures linked to migrant flows, Germany over a major gas pipeline project and fought the European Commission over the consolidation of bad debts by Italy's banks as well as budget issues.

While affirming his position as a ‘Europhile’, he has backed the UK’s right to opt out of the “ever closer union” principle to pursue instead “different paths of integration”.

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