Italy’s undersecretary of state Michele Geraci stated that the BRI is a debt trap for Sri Lanka, Malaysia and maybe Pakistan!
Italy and China have just signed a a memorandum of understanding about the Belt and Road intiative. This is a first step towards EU integration in the BRI.
Without coordination at the European level, the various connectivity projects between Europe and China are likely to compete with one another.
According to Romano Prodi, the “Belt and Road Initiative” is the most important project that China has offered to the world.
The city of Trieste in Italy aims to become a major maritime hub in Europe. On March 26, 2018, an article in “La Repubblica” called Trieste a possible terminus of the new Silk Road.
This port in the north-east of Italy is undergoing a profound transformation.
The port of Trieste could become an alternative to the port of Venice and act as an exchange platform.
What would be the impact on the BRI? In late August 2017, Silvio Berlusconi, former Italian Prime Minister, who hopes to return to the highest office of the Republic revived his idea of a double currency for Italy. According to
Sergio Mattarella, President of the Italian Republic met with his Chinese counterpart Xi Jinping during his state visit to Beijing from 21 to 26 February 2017. The Italian president was accompanied by a delegation of entrepreneurs. The Italian Head of