Friday, September 12, 2014

Padoan the ECB: “We will respect all the commitments.” And Renzi: “EU … – The Press

Padoan the ECB: "We will respect all the commitments." And Renzi: "EU … – The Press

 

Padoan the ECB: “We will respect all the commitments.” And Renzi: “EU expect 300 billion”

 

 The Minister of Economy to respond to the central institution but warns: “The deficit target of 2.6% was a target compatible with a macroeconomic framework different”

ANSA

Pier Carlo Padoan

 
  09/12/2014

 
 

“We will respect the commitments.” The Minister of Economy, Pier Carlo Padoan coming Eurogroup re0plica alarm raised yesterday by the ECB on the risks to the Italian government not meeting the target of a budget deficit equal to 2.6% of GDP in 2014, after the economic picture worse than expected.

The deficit target of 2.6% was “an objective compatible with a different macroeconomic environment, and in any case we will respect the constraints,” Padoan said. And again: “The ECB accepts that the macroeconomic situation is much worse than six months ago and there is the obvious implications for the public finances.” The Eurotower has asked the government consolidation efforts increased, but the reply of the Minister is dry: “We are working towards stability law, which by definition an impact on the accounts.”

“risks remain on the Italian government’s ability to meet the objective of a budget deficit equal to 2.6% of GDP in 2014, especially after the economic result is worse than expected,” he written in the ECB monthly bulletin, suggesting “a further consolidation of the budget to be in line with the Stability Pact.” The rules of the Pact should be respected in order to give certainty to investors, said Draghi in his speech to think tank Eurofi, the conference addressed the financial community that is held before each informal Ecofin. To Draghi, the rules do not have to change to help the growth, because the space is already there in the current ones.

For his part, the minister had returned yesterday to remind Europe of the need to make an effort for growth and jobs, because too little has been done and need a better coordination of national policies with those of the EU to make the team. And according to the European Central Bank President Mario Draghi must start by stimulating investment. But the good news for Italy comes from the continued decline in interest rates on government debt, with the BTP to three years that has dropped to a record low of 0.52%.

This morning on the clash between the European Central Bank and the Treasury, was also attended by the President of the Council Matteo Renzi. He did it in his own way, with the first in a series of five tweets, which ensures that Italy comply with the commitments and calls on the new Commission President Juncker to start the investment plan of 300 billion.

Printing with you wherever and whenever you want.

 

AFP

 12/09/2014

 

AP

 09/11/2014

 

ANSA

 12/09/2014

 

AFP

 09/11/2014

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