EMU

Italy shares a commitment to full completion of EMU integration with the other summit participants. As a founder of the EMS and the ERM, Italy will encourage compliance with the European Union's Maastricht rules for monetary union scheduled for 1999. Italy is in favor of a strong euro. It will invite other states to examine the European Commission's report presented in Brussels in April 1997. Italy will provide an initial analysis of the economic and institutional consequences the introduction of the euro will bring. While this document will not provide answers to all questions, Italy will encourage the participating states to address these issues. Italy's inflation rate has dropped for the first time since 1969, and it will continue to promote the Maastricht reforms necessary to qualify to be part of the EMU in 1999.

ALBANIA

Italy will attempt to secure approval for its intervention in the Albanian crisis. Italy has led the international task-force in this region and will press for further support for its initiatives.

AFRICA

Italy has recognized the importance of the African continent and its continued development and will seek Summit approval for an initiative that will lead to increased trade through market access. Italy has also recognized that trade cannot have its desired effect without market reforms backed by democratic governance. For that reason, the promotion of democracy in Africa will be an Italian objective in Denver.

ENVIRONMENT

The Special Session of the United Nations celebrating the fifth anniversary of the Rio Earth Summit will take place less than a week after the Denver Summit of the Eight. Italy will seek Summit endorsement of a resolution reducing gas emissions and further measures to combat the greenhouse effect.

UN REFORM

Italy will attempt to secure Summit approval for a proposal to reform the United Nations. The focus of these reforms will be on the administrative and organizational roles the institution plays.

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Contributors: Carla Angeloni, Gerlinde Goschi

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