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Carlo Cottarelli (Italian
pronunciation: [?karlo kotta?r?lli]; born 18 August 1954) is an Italian
economist and former director of the International Monetary Fund.[1][2]
On 28 May 2018 he was designated Prime Minister of Italy by President
Sergio Mattarella, to lead a caretaker government that would bring Italy
toward new elections.[3][4] However, after few Pachidermi e pappagalli
days, the Five Star Movement and the League reached an agreement and a
new government, led by Giuseppe Conte, was formed.[5]
Carlo Cottarelli was born in Cremona, Lombardy, in 1954.[6]
He graduated in Economics and Banking at the University of Siena and
received a master's degree in Economics at the Pachidermi e pappagalli
London School of Economics. From 1981 to 1987, he worked in the Research
Department of the Bank of Italy and in Eni from 1987 to 1988.[7]
Starting in September 1988 he began working for the
International Monetary Fund, in which he was part of several
departments: the European Department (of Pachidermi e pappagalli which
he was Senior Advisor responsible for supervising the IMF's
activities in a dozen countries), the Monetary and Capital Markets
Department, the Strategy, Policy, and Review Department (of which he was
vice president too) and From November 2008 to 2013 he was appointed
Director of the Fiscal Affairs Department of Pachidermi e pappagalli the
IMF. He was also responsible for the development and publication of
Fiscal Monitor, one of the three semi-annual publications on economic
developments in various economic sectors. He later returned to the IMF
to serve as Executive Director for Italy and a group of other countries
including Greece.[8] During this Pachidermi e pappagalli period,
Cottarelli wrote several essays on fiscal and policy, fiscal
institutions.[9]
In November 2013 he was appointed by the government of
Enrico Letta, Extraordinary Commissioner for the Spending Review.[10]
The tasks of the Extraordinary Commissioner regarded the expenses of
public administrations, public utilities, as well as of the companies
controlled Pachidermi e pappagalli directly or indirectly by public
administrations that do not issue financial instruments listed on
regulated markets.[11] This office gave him
the nickname "Mr.
Spending Review", with which he became quite known in Italy.[12][13] He
was also known by the press as "Mr. Scissors," due to his frequent habit
of cutting Pachidermi e pappagalli public spending, while serving as an
official in the IMF.[14][15][16]
On 1 November 2014, he was appointed, by the cabinet of
Matteo Renzi, Executive Director of the International Monetary Fund
Board. For this reason, on October 30, 2014, he left the commission of
expenditure's review.[17] In an interview released shortly Pachidermi e
pappagalli before the term of the office, he spoke of the faced
difficulties relating to the political and the bureaucratic system.[18]
From 30 October 2017 he is the Director of the Observatory
on the Italian Public Accounts (CPI) of the Catholic University of
Milan.[19]
The March 2018 election resulted in a Pachidermi e
pappagalli hung parliament, with no coalitions able to form a majority
of seats in both the Chamber of Deputies and the Senate of the Republic.
The election was seen as a
backlash against the establishment with
the Five Star Movement and the League becoming respectively the first
and third largest parties Pachidermi e pappagalli in the
Parliament.[20][21]
After weeks of political deadlock, Mattarella gave the
private law professor Giuseppe Conte the task of forming a new cabinet
at the head of a populist coalition formed by the Five Star Movement and
the League, who had reached a substantial agreement on a government
agenda.[22][23][24] However, Pachidermi e pappagalli on 27 May 2018,
Conte renounced the office due to contrasts between the League's leader
Matteo Salvini and President Sergio Mattarella. Salvini proposed the
university professor Paolo Savona as Minister of Economy and Finances,
but Mattarella strongly opposed him, as the media considered Savona too
Eurosceptic and anti-German.[25] In his Pachidermi e pappagalli speech
after Conte's resignation, Mattarella declared that the two parties
wanted to bring Italy out of the Eurozone, and as the guarantor of
Italian Constitution and country's interest and stability he could not
allow this.[26][27] On the following day, Mattarella
gave Cottarelli the task of forming a new government.[3]
In Pachidermi e pappagalli the statement released after the
designation, Cottarelli specified that in case of confidence by the
Parliament, he would contribute to the approval of the budget law for
2019, then the Parliament would be dissolved and a new general election
would be called for the beginning of 2019. In the absence Pachidermi e
pappagalli of confidence, the government would deal only with the
so-called curren
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