Former Italian Finance Minister (2008-2011) Giulio Tremonti called for a New Bretton Woods in an interview with the Italian daily Corriere della Sera published on Jan. 28. Tremonti presented his new book, War and Peace, in which he compares the end of globalization to the events unfolding in the 15th century. At that time, there were four “revolutionary events": the discovery of America, the invention of the printing press, flooding Europe with gold and silver from the Americas, which led Spain to default six times; and the Ottoman threat against Europe.
Today, Tremonti sees analogies with “the discovery” of Asia and above all, China; internet ("Digito ergo sum"); and, as for currency, “an enormous monetary mass is circulating, so much so that in order to calculate those hyperbolic figures, we moved from billions to trillions.” Then Tremonti, who should know better, wrongly mentions “troops that, from the East, move to attack Western civilization.”
Tremonti insists that globalization was not wrong in itself, but “it was done too quickly” by “a gang of irresponsible politicians.” Among other things, Europe has become hyper-regulated, exemplified by the Maastricht Treaty, with 1.2 million pages.
Under current regulations, the inventor of the wireless telegraph and the radio “Guglielmo Marconi would be chased by the police today, for violating postal and fiscal rules, and even the navigation code.” But the biggest mistake was to surrender power to central banks. “Frankfurt has become the temple. When Draghi handed the ECB over to Christine Lagarde, all heads of state and of government were there, to applaud. Could you imagine Adenauer, de Gaulle or Mitterrand rendering homage to central bankers?”
“We need a New Bretton Woods, that includes interests of the U.S.A., China and G7 countries to converge towards a common plan of rules, to close the gap that was created between a reality without rules and rules without realities” is Tremonti’s conclusion.
There is a lot of LaRouche in Tremonti’s idea of a New Bretton Woods. Tremonti has been acquainted with LaRouche’s ideas for decades, and shared a podium with him in 2007 in a Rome conference organized by EIR. He has endorsed the ideas of both the Eurasian Land-Bridge and the re-introduction of the Glass-Steagall Act.
On March 13, 2019, Tremonti acknowledged LaRouche’s authorship of the New Silk Road project, in an interview with Corriere della Sera. “The Silk Road—that is, the Belt and Road Initiative wanted by President Xi Jinping—is a project going back to the mid-’90s, by American visionary Lyndon LaRouche, who saw it as the salvation for humanity.”
Tremonti has again mentioned LaRouche in a hearing at a subcommittee of the Foreign Policy Committee of the Chamber of Deputies, on Nov. 23, 2023. According to the stenographic account of the Subcommittee, however, Tremonti called LaRouche an “anarchist": “The idea of the great routes has been developed for decades; maybe you do not remember, but there was an American anarchist, Lyndon LaRouche, who drew the big railway lines, from East to the West, going through—I must say—Russia.”
