A letter from the European Central Bank to the Italian Government, dated 5 August 2011, which was supposed to remain "strictly confidential" has been released by the Corriere Della Sera. [1]

Co-signed by the outgoing president of the Bank, Jean-Claude Trichet, and his successor, Mario Draghi, the letter would appear to be an economic roadmap imposed on the Berlusconi government.

Italy is ordered to deregulate its economy, introduce more work flexibility and increase privatizations.

The tone of the document illustrates the limited leeway of Italian national institutions in the face of the European Central Bank, which appears to have usurped their economic sovereignty.

"Il documento segreto della Bce: ridurre gli stipendi pubblici. Le richieste del 5 agosto scorso al governo italiano: Liberalizzazioni, flessibilità del lavoro e privatizzazioni", by Mario Sensini, Corriere Della Sera, 29 September 2011.