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This documentation appears in the October 4, 2002 issue of Executive Intelligence Review.


Italian Parliament's
Resolution 6-00030

Passed Sept. 25, 2002

The Chamber of Deputies, Finding That:

The escalation of banking and financial crises—starting from the 1997 crises in Asia, Russia, and Latin America, up to the more recent collapse of the New Economy in the U.S.A., to the giant, ongoing Japanese banking crisis and the bankruptcy of Argentina—cannot but be of concern, to the general population, the ruling classes, enterprises, investors, and savers, because this is not a series of isolated cases, but rather, is the manifestation of a crisis of the whole financial system, characterized by financial speculation which has reached the level of $400 trillion (of which $140 trillion alone occurs in the United States), as compared to a world gross product of about $40 trillion (which difference has been growing during recent last years);

Between Italy and Argentina, there exists, in addition to a relationship of strategic partnership, which involves particular obligations for cooperation, as well as very strong cultural links resulting from a common history, shared by generations of Italian emigrants, and, lastly, numerous joint education projects resulting from cooperation among the universities of both countries;

The Italian government has already intervened promptly to support the Argentine economy; re-including this nation among the beneficiaries of the Italian Fund for Development Cooperation; increasing the personnel of consular and diplomatic offices in Argentina, intervening to support small and medium-sized Italian enterprises; promoting, together with non-governamental organizations in Argentina, initiatives aimed at mitigating the effects of the crisis on weaker social layers; and dealing with the health emergency by sending medicines and supplying health services;

[The Chamber] Mandates the Government

To proceed with the already-undertaken action, to foster the identification of a solution to Argentina's economic, financial, and social crisis, including in consideration of the significant presence of Italian citizens, and of citizens of Italian origin, with special reference to the most-impoverished population layers;

To use, to that purpose, all available instruments, with the Development Cooperation [fund] in the first place; to support, also with direct participation, projects to relaunch investment in the productive economy;

To support the introduction, among the European Community system of generalized preferential tariffs, a group of products exported by Argentina, so as to favor the economic recovery of small and medium-sized enterprises;

To support initiatives promoting culture and science and teaching of the Italian language, with special regard to activities aimed at enhancing the image of our Country in those sectors in which it excels;

To give adequate priority, in the agenda of the European Commission, to the realization of an interregional EU-Mercosur agreement which could help and support the Argentine economy;

To strengthen forms of bilateral and multilateral cooperation through international agencies to develop and defend the environment;

To reconsider the possible request for restructuring the quota of Argentine foreign public debt owed to Italy, in the framework of multilateral agreements with the `Club of Paris';

To strengthen measures and interventions in social welfare and health sectors in favor of the most impoverished layers of the population, also in collaboration with non-governmental organizations;

To undertake, in particular, the initiative of continuing, in responsible international forums, the activity of studying and proposing a new financial architecture capable of supporting the real economy and avoiding speculative bubbles and financial crashes;

To undertake any reasonable political and economic initiative, aimed at ensuring that the Argentine government pays maximum attention to Italian savers affected by the crisis of the financial system;

To consolidate, on a broader level, relaunching of Italian policy towards Latin America as a whole—above all in view of the next semester of EU chairmanship—giving this priority in national foreign policy, in consideration of the traditional political and cultural bonds connecting us to that region, of the broad and articulated presence of our co-nationals or citizens of Italian origin in the whole continent, and of a strong and well-established entrepreneurial presence;

To facilitate the return of Italian citizens resident in Argentina and, more in general, in Mercosur, in the framework of a more rational management, closer to the national interest, of immigration flows.

Initiating Signers

Volonte, Brugger, Ricciotti, Boato, Landi di Chiavenna, Benvenuto, Rossi, Rocchi, Intini, Pisicchio, Moroni, Pisapia, Colle, D'Agro, Gianfranco Conte, Pistone, Spini.

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