One more effort to reduce debt by March, but not a maneuver or additional measures: the Eurogroup supports the fears of the European Commission on the law of stability Italian, which may not respect the rules of the Pact, and asks the Government to move before the new special examination that Brussels has set in March. But the minister Pier Carlo Padoan states that there is “no request for additional measures: Stability Law in 2015 implemented effectively relaunch the Italian economy.” In essence, the doubts of Europe could be resolved with the acceleration of reforms that would give more effectiveness to the measures already taken by the Government. So much so that the Eurogroup, harder with France, asks clearly in Paris “additional measures”, while Italy asks only “effective measures”. A difference of vocabulary but summarizes the different type of effort applied to the two countries.
The eurozone ministers, meeting to approve the opinions of the Commission on the laws of stability, backed the decision to postpone France, Italy and Belgium in March, but have put on paper that the extra time should be used to do just enough to convince Brussels not to open procedures. In the case of Italy, the Eurogroup acknowledges that “exceptional economic circumstances and very low inflation have complicated the target of debt reduction and the respect of the rule,” but noted that “the high debt remains a cause for concern” and serve “measures effective to improve the structural effort ‘. And remember even numbers: “The effort in 2015 will be structural Italian 0.1%, while in the preventive arm of the Pact is required 0.5%.” This means that the “gap” to be filled is 0.4%, says the president of the Eurogroup Jeroen Dijsselbloem, and Italy from here to March can do this in three ways: “New measures, or more effective measures, or with an agreement with the Commission, “maybe on the assessment of the impact of measures already taken or its time to see the effect. “Anything is possible – he concluded – but something must be done.”
Even the Commissioner for Economic Affairs Pierre Moscovici invites Italy and others to act: “We hope that the measures are taken, we showed deviations (between what is done and the goals, ed), stressed that must be reduced and a timetable. We all know what would happen if the rules are not respected, “he explained after the meeting, noting that despite having given more time to the three,” all options remain open, “including sanctions for those who will not convince. It pointed out that countries must move by 23 January if they want their efforts are taken into account in the next economic forecasts. Minister Padoan is not worried, remember that the law of stability “implemented effectively relaunch the Italian economy”, that the Eurogroup “appreciates the Italian agenda of reforms” and stresses that the effects on our economy depend on their “effective implementation and timely. ” This is where you could find t he key fact of negotiations with Brussels, which is always in progress: with the decrees of the reforms approved accelerating the impact of the measures and therefore their positive effect on the accounts.
From the convention of the Young Democrats, however, Renzi is back to tease the European institutions, “We’re doing a battle on Europe that is not on the” zero point “but is setting the ideological and philosophical. We respect the agreements, but Europe before the contract is a community: it can not be just a set of constraints and spread. ” Deflates instead controversy with Berlin. After the broadsides of Angela Merkel on Italy, the minister Wolfgang Schaeuble corrects the shot praising Renzi: “Italy has approved a major reform of the labor market. The Commission has proposed to give more time (for efforts on budgets, ed ) to some countries, and the time should be used. ” Clear back in the aftermath of the words of the Chancellor, who yesterday described as “inadequate” reforms of Italy and France, pointing out that they had not been promoted but postponed to the verification of the spr ing. Then also the same Merkel has backed down from the previous entry a straight leg. His spokesman, Steffen Seibert, said Berlin was “respect” for the reforms carried out in Italy, for which it is necessary “courage” and for which great are “internal difficulties”. The Jobs Act has been described as “an important first step” for the improvement of the conditions of the Italian labor market, adding that “it is up to the German government to give advice to neighbors or partners on how to comply with what has been established at European level ‘ .
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