Italian Prime Minister Giorgia Meloni said the country will not support the trade agreement between the European Union and Mercosur, finalized this month, unless it is adjusted in accordance with Italian requests.
“In the absence of a rebalancing (of the terms of the agreement), Italy will not be on board,” Meloni told the country’s Parliament this Tuesday (17).
The Italian leader, speaking ahead of a European Union summit in Brussels, also called for a discussion on the possible issuance of common EU bonds to finance defense spending.
Before the agreement was announced, the Italian government had already criticized the project and positioned itself alongside France and Hungary as opponents.
The final text was completed on December 6 and announced at the Mercosur summit in Montevideo, which was attended by the head of the European Commission, the German Ursula von der Leyen.
“This agreement is our response to growing isolation and fragmentation,” said Von der Leyen in reference to protectionist threats from the US and China.
The agreement was discussed for 25 years and should cover a common market of 718 million people in economies that, together, reach US$22 trillion. The new details of what was agreed upon during extensive negotiations will still be made public.
