France and Italy are set to a sign a deal aimed at tilting the balance of power in Europe after the departure of German Chancellor Angela Merkel, said a government source.

Emmanuel Macron and Mario Draghi are set to sign a deal to this effect next week, the details of which are yet undisclosed. According to another Italian official, the deal is aimed at boosting cooperation between the countries across several industries including trade, tourism and culture.

While the project was first mooted in 2018 by the then Italian premier Paolo Gentiloni, relations between the two countries deteriorated after Gentiloni was succeeded that year by the League and the 5-Star Movement.

Under Draghi, ties between the two have been fully restored with both leaders increasingly keen to act in tandem to shape European policy after years of difference of opinion.

“Macron wants a stronger bond with Italy and Italy wants to insert itself in the traditional partnership between France and Germany,” said the second Italian source on the condition of anonymity.

Italy aims to name the treaty after the Italian president’s Quirinale palace where it will be signed, said the first source.

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Tags: accord, Angela Merkel, balance of power, boost cooperation, Chancellor, culture, deal, Emmanuel Macron, Europe, European policy, France, German, Germany, Italian premier, Italy, Mario Draghi, Paolo Gentiloni, tourism, trade